FxWirePro: AUD/USD slips to hit three-month low,scope for further downside

• AUD/USD slips to hit three-month low as the greenback continued to extended its recent climb against Aussie.

• Geopolitical tensions remained as Iran announced that it would not meet U.S. officials in Qatar on Tuesday, dampening hopes for renewed diplomatic engagement.

• The lack of any meaningful progress in U.S.-Iran negotiations sustained safe-haven buying and curbed demand for risk-sensitive currencies like the Australian dollar..

• Minutes from the Reserve Bank of Australia's June policy meeting showed policymakers remained concerned about upside inflation risks and were prepared to raise interest rates again if necessary, following three rate hikes already delivered this year.

•Board members also expressed growing concern that the housing market could experience a sharp downturn as higher borrowing costs and proposed tax changes on investment properties weighed on demand.

•  Immediate resistance is located at 0.6929(June 25th ), any close above will push the pair towards 0.6986(50%fib).

•  Support is seen at 0.6864(38.2%fib) and break below could take the pair towards 0.6813(Lower BB).

 Recommendation: Good to sell  around 0.6900 with stop loss of 0.6960 and target price of 0.6860