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AUD/USD mellow ahead of the FOMC tomorrow

FXStreet (London) - It has been a low profile day for AUD/USD with the pair content to trade between pivot levels ahead of tomorrows FOMC.

The pair climbed overnight to post a daily high at 0.9053 (R1) before sliding to find support at 0.8988 (S1) and edging up to where it is currently trading at 0.9025, just above the daily pivot at 0.9018.

Yesterday saw the RBA minutes from September having limited market impact, with Nick Mannion of RBS FX Strategy commenting, “The RBA reiterated their desire to keep interest rates on hold for an extended period of time and noted that the AUD remains overvalued.” Ahead looks like a quiet calendar for the pair.

AUD/USD Technicals

The hourly FXStreet OB/OS Index is showing neutral conditions, alongside the FXStreet Trend Index which is strongly bullish. Meanwhile, daily RSI is in neutral territory at 25.57.

Current price is 0.9029, with resistance ahead at 0.9052 (Yesterday's High), 0.9056 (Daily High), 0.9058 (Daily Classic R1), 0.9075 (Hourly 100 SMA) and 0.9088 (Daily Classic R2). Below, we can see support at 0.9028 (Daily Open), 0.9028 (Monthly Low), 0.9028 (Weekly Low), 0.9024 (Hourly 20 EMA) and 0.9021 (Daily Classic PP).

Regarding candlestick formations, we can see Doji formation on the 4-hour .

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