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AUD falling to meet support at hourly 100 SMA

FXStreet (Guatemala) - AUD/USD is trading at 0.9337, down -0.19% on the day, having posted a daily high at 0.9365 and low at 0.9332.

AUD/USD had been struggling around the 55 day moving average after the mid week break to the upside. The pair has slid at the end of the week on a strong greenback and month end flows. The hourly FXStreet OB/OS Index is showing neutral conditions, alongside the FXStreet Trend Index which is slightly bearish. Karen Jones, chief analyst at Commerzbank suggested that should the current August lows at 0.9240/39 give way, the 0.9182/77 May low and 200 day moving average would be eyed. “We also find the 55 week ma in this vicinity at 0.9212 and the 32.8% Fibonacci retracement at 0.9182. These represent major break down points and we suspect that they will hold the initial test. Longer term failure at 0.9182 will trigger the start of a move to 0.8891, the March low”.

AUD/USD hourly levels

Spot is presently trading at 0.9338, and next resistance can be seen at 0.9342 (Daily 100 SMA), 0.9347 (Hourly 20 EMA) and 0.9354 (Daily Classic. Support below can be found at 0.9333 (Daily Classic S1), 0.9330 (Hourly 100 SMA) and 0.9322 (Daily 20 SMA).

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