The Australian dollars attempt to get back into the bullish price channel was short lived after the Fed hike rates by 25 basis points. In my previous post, I pointed out that AUD/USD will need to get back above its 500 EMA and into the bullish price channel and it did achieve those two targets but crashed after the Fed rate hike decision pushing prices down from 0.76089 to 0.75288 as per my previous estimated support and resistance price point.
AUD/USD managed to drive prices up above 0.756923 after the fall and is currently trading at 0.75732 but will need to maintain trading activities above 0.756923 to prevent it from going down that path again. Failure to hold at 0.756923 support could see the Aussie dollar fall to 0.755524. The first two resistance located at 0.75815 and 0.75924.
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