AUDUSD Chart Technical Outlook trades south on hawkish Fed, bears target 0.6460
AUD/USD’s recent bias is bearish. Prices have been printing lower highs and lows this year, breaking below the previous swing low at 0.6525. The recent FOMC meeting was hawkish, and Fed Governor Jerome Powell echoed the same message in an interview over the weekend. The RBA is due tomorrow to decide on interest rates and publish fresh economic projections.
I expect more losses to go into the event, eyeing the economic forecast and the following speech.
Resistances: 0.6540, 0.6620
Supports: 0.6460, 0.6370
