AUD/USD is trading at 0.67008, 0.09% up since previous day close. The Aussie rallied after Reserve Bank of Australia (RBA) surprisingly hiked an interest rate by 25 bps leading to 3.85% from 3.60% in order to control inflation rate; against the expectation of no rate change. On global front, the mixed USD ahead of the FOMC meeting & U.S Non-farm Payroll data led buying pressure in AUD/USD. The result of Australia’s Retail sales data will remain in focus on Wednesday. As seen in the chart, the pair took a strong support of Fibo level 61.8 with heavy trading volume. Currently, the pair is trading near MA (10) which indicates the chances of strong breakout if crossed. Buying on lower levels may be recommended in AUD/USD on an intraday basis.

US30 is trading at 34153.3, 0.02% up since previous close. The higher side momentum can be seen in U.S markets as traders European shares extended its gains on Friday following an remain cautious over upcoming FOMC meeting which is to be concluded on late Wednesday with the hope of rate hike of 25bps. Ongoing concern over U.S failure of complying debt ceiling can suppress the US30 to some extent. The U.S ISM Manufacturing PMI rose to 47.1 from 46.3 in the previous month while the result of Factory Orders will remain in focus for the day. As seen in the chart, the index is trading above MA (10) & MA (20) which acts as major support level & hence, buying on corrective dips may be recommended on daily basis in US30.

WTI Oil is trading at $75.44, 0.16% down since previous day close. The Oil prices retreated against the steady USD as traders waits for the FOMC meeting which is to be concluded on Wednesday with a hope of 25bps. The U.S Baker Hughes report showed no major changes in Oil rig counts as compared to last week. Globally, the rising fear of recession hitting the U.S & slowing demand from China made the Oil prices weaker earlier. Earlier, the OPEC+ announced a surprised production cut for the month of May which lifted up the prices to $80 levels. The result of U.S API report will remain in focus for the day. As seen in the chart, the Oil slid down till Fibo level 61.8 which shows the either side breakout momentum.