AUD/USD slumped overnight after Fed delivered a hawkish rate hike decision.
Minor recovery attempts on the day were rejected at session highs at 0.7125, the pair has resumed weakness, slips below 0.71 handle.
The unexpected rise in the Aussie unemployment rate and the drop in the full-time jobs to keep downside intact.
Technical studies are biased lower, with no major signs of reversal. Scope for test of 88.6% Fib. Further weakness on break below.
Support levels - 0.7063 (88.6% Fib), 0.7021 (Oct 26 low), 0.70
Resistance levels - 0.71, 0.7146 (5-DMA), 0.7195 ( 50-DMA ), 0.72
Good to go short on upticks, SL: 0.7150, TP: 0.7063/ 0.7025/ 0.70
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