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AUD/USD retreating modestly ahead of RBA

FXStreet (Córdoba) - The AUD/USD gained momentum and recovered on Monday after opening the week with a bearsih gap, but the upside found resistance around 0.9350. During the last horus the pair has been moving slowly with a downside bias ahead of the RBA decision, that will be announced on Tuesday at 04:30 GMT.

Price is about to end Monday near daily lows, around 0.9330/35, at the same level it closed last Friday.

AUD/USD technical outlook

“Technically the pair is gaining short term bearish tone, with the hourly chart showing price below a flat 20 SMA and indicators grinding lower in negative territory, keeping the pressure to the downside”, say Valeria Bednarik, Chief Analyst at FXStreet.

According to Bednarik, a price acceleration through 0.9330 “should anticipate a stronger decline, with further selling interest below 0.9300 exposing the 0.9260/70 price zone.”

Monday passes us by – FXStreet

Valeria Bednarik, chief analyst at FXStreet said Monday passed by, adding nothing new to the general outlook of currencies, with thin conditions due to Labor Day in the US and the expectation on ECB, BOE and US Payroll numbers by the end of the week.
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