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AUD/USD idling key support zone

FXStreet (Guatemala) - AUD/USD is trading at 0.8979, up 0.20% on the day, having posted a daily high at 0.8999 and low at 0.8927.

AUD/USD came in on the offer post the FOMC yesterday and a portion of the losses have been recouped but only as far 0.8980. However, below 0.8960 Karen Jones, chief analyst at Commerzbank, is looking for another leg down to the 0.8840/78.6% retracement of the move seen this year en route to 0.8660 this years low. The stronger dollar theme may well persist in the week ahead and AUD/USD faces this "headwind", according to analysts at Westpac Banking Corporation ABN while China's deceleration will be “chipping away at commodity prices”.

AUD/USD hourly levels

With spot trading at 0.8979, we can see next resistance ahead at 0.8999, 0.9003 (Daily Classic PP), 0.9023 (Hourly 100 SMA), 0.9055 (Daily Classic R1) and 0.9097. Support below can be found at 0.8977 (Hourly 20 EMA), 0.8961, 0.8961, 0.8959 and 0.8951.

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