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AUD/USD clinching to 0.9000 support

FXStreet (Moscow) - AUD/USD is sitting just above 0.9000 after a failed attempt to break below; the pair has touched the low of 0.8999 so far.

Aussie was badly beaten

Traders stopped selling euros and started to sell Aussie. It seems that the Australian currency fell out of love with markets once and for all as it lost more than 300 pips in one single week. AUD/USD is trading in the lower part of 0.9100-0.9000 range and threatening to crack 0.9000 pivot, while a week ago it was well above 0.9350. Tricks of fortune and USD strength are responsible for Aussie failure. Poor Chinese macroeconomic statistics added some fuel to the fire as the Chinese industrial production showed the weakest growth since the global financial crisis. Remarkably, even eye-popping employment data was unable to change the sentiments. AUD could stay under pressure, while markets wait for RBA minutes and FOMC monetary policy decision. On the intraday basis, keep an eye at 0.9018 (intraday Asia high) on the upside and at 0.9000 on the downside. Once it is broken, 0.8983 will come into sight.

What are today’s key AUD/USD levels?

Today's central pivot point can be found at 0.9060, with support below at 0.8979, and 0.8927 with resistance above at 0.9089, 0.9141 and 0.9170. Hourly Moving Averages are bearish, with the 200SMA bearish at 0.9242 and the daily 20EMA bearish at 0.9257. Hourly RSI is bearish at 25.

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