The Australian dollar rose against its U.S. counterpart on Monday, easing off a three-week low but gains were expected to remain limited as sentiment on the greeback strengthened ahead of the Federal Reserve’s policy meeting this week.AUD/USD hit 0.7214 during late Asian trade, the session high; the pair subsequently consolidated at 0.7208, rising 0.26%.The pair was likely to find support at 0.7098, the low of November 19 and resistance at 0.7283, Friday’s high.Most investors expect the Fed to raise interest rates for the first time since June 2006 at its upcoming meeting on December 15-16.Higher interest rates would make the U.S. dollar more attractive to yield-seeking investors.
RECOMMENDATION :
BUY GBP/USD ABOVE 1.5170 TARGET 1.5190 1.5230 SL 1.5140
SELL GBP/USD BELOW 1.5130 TARGET 1.5110 1.5070 SL 1.5160
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