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AUD/USD remains below key resistance at 0.8910

FXStreet (Guatemala) - AUD/USD is trading at 0.8872, down -0.01% on the day, having posted a daily high at 0.8876 and low at 0.8871.

A soft AUD/USD is consolidated and continues to change hands within a tight range while the week begins to progress. The pair sits near a fresh 7-month low set at 0.8852, as noted by chief analyst at FXStreet, Valeria Bednarik who also points out that hourly indicators are maintaining the bearish tone seen on previous updates, as per 20 SMA heading lower above current price and indicators steady near oversold territory. “In the 4 hours chart RSI looks a bit exhausted in oversold levels, but momentum maintains a bearish slope, suggesting an upward movement will remain limited. 0.8910 is the key resistance for today, as only above this last the pair can shake off the strong bearish tone and be able to correct higher”.

AUD/USD support and resistance

Support levels: 0.8830 0.8800 0.8770

Resistance levels: 0.8880 0.8910 0.8950

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