Fxwirepro: Aud/usd rejected at 0.7135 (day’s High), slips to 0.7075

  • The Australian dollar popped higher on Monday, having proved resilient to another set of disappointing China data over the weekend
  • The dollar broadly weak on Monday with investors sticking to the sidelines as the countdown to FOMC begins 
  • AUD/USD rose to a two-week peak of 0.7135, from 0.7080 late on Friday, pulling well away from a 6-1/2-year touched last week
  • But resistance was found at 0.7165 (50% retracement of 0.6892-0.7440), and the pair pared gains to slip to session lows at 0.7075
  • Markets now awaiting to see  RBA minutes ahead of the FOMC showdown this week and long await Fed decision on interest rates
  • Immediate resistance for the pair is seen at 0.7100 (psychological level)ahead of 0.7135 (session highs Sept 14
  • Supports on the downside are seen at 0.7056 (4h cloud base) and then at 0.7021 (daily Tenkan-Sen)

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