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AUD/USD under pressure below 0.8900

FXStreet (Córdoba) - The bearish pressure over the Australian dollar has intensified after AUD/USD broke below the 0.8900 mark, moving in tandem with commodities and stocks that trade heavy across the board.

AUD/USD pierced below 0.8900 during the European session and slid to its lowest level in seven months before pausing at the 76.4% retracement of the 0.8660 - 0.9504 rise at 0.8857. At time of writing, AUD/USD is trading at 0.8860, recording a 0.79% loss on Monday.

AUD/USD technical levels

As for technical levels, AUD/USD could find next supports at 0.8857 (76.4% Fibo of 0.8660-0.9504), and 0.8820 (Dec 18 2013 low) ahead of 0.8800 (psychological level). On the other hand, resistances are now seen at 0.8948 (intraday high), 0.9000 (Sep 19 high/psychological level) and 0.9038 (10-day SMA).

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