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Aug 29, 2014
AUD/USD surrenders intraday gains
FXStreet (Córdoba) - The AUD/USD failed to consolidate above the 0.9360 area and came under renewed pressure as gold pulls back from above $1290/oz.
After being rejected from a high of 0.9361, the AUD/USD has slid back to the 0.9330 area which has become into support after acting as resistance earlier this week. At time of writing, the AUD/USD is trading at 0.9342, 0.13% below its opening price.
Data-wise, the US consumer income/spending, Chicago Fed PMI and the Reuters Michigan consumer confidence data will be published ahead of a long weekend due to the Labor Day.
AUD/USD technical levels
As for technical levels, the AUD/USD could find next supports at 0.9330 (Aug 29 low), 0.9300 (psychological level), 0.9300 (psychological level/Aug 27 low) and 0.9271 (Aug 26 low). On the flip side, resistances are seen at 0.9361 (Aug 29 high), 0.9373 (Aug 28 high) and 0.9387 (Jul 30 high).
After being rejected from a high of 0.9361, the AUD/USD has slid back to the 0.9330 area which has become into support after acting as resistance earlier this week. At time of writing, the AUD/USD is trading at 0.9342, 0.13% below its opening price.
Data-wise, the US consumer income/spending, Chicago Fed PMI and the Reuters Michigan consumer confidence data will be published ahead of a long weekend due to the Labor Day.
AUD/USD technical levels
As for technical levels, the AUD/USD could find next supports at 0.9330 (Aug 29 low), 0.9300 (psychological level), 0.9300 (psychological level/Aug 27 low) and 0.9271 (Aug 26 low). On the flip side, resistances are seen at 0.9361 (Aug 29 high), 0.9373 (Aug 28 high) and 0.9387 (Jul 30 high).