AUD / USD, Fed is expected to raise interest rates, good levels for short positions

Forex AUD/USD D1 Technical Analysis Our expectations:

Short trend and short-term long correction. Movement in the trend channel, the price has reached the upper boarder, allowing entry by the trend.

Price action: Pin bar at resistance level.

Indicators:
50SMA below 200SMA Short Trend Verification. Test of 50SMA, the price holds below
Stochastic turns below 0.80 - a signal for decrease.

SL: 0,74 stop deliberately moved out of the bundles to prevent triggering.

Alternative Scenario: Entry at these levels is aggressive, more conservative traders would wait for eventual triggers and testing the zone, around 23.8% Fibonacci.

Fundamental: Today will be announced Federal Reserve's interest rate decision. Analysts expect the US Federal Reserve to increase by a quarter of a percentage point at the end of its session. The event will be watched closely to see if the central bank provides any signals as to where monetary policy will be heading over the coming months and into next year. Most annalist expect the central bank to raise rates two more times before year-end.

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