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AUD/USD tries to settle above 0.8900 after Chinese MI

FXStreet (Moscow) - AUD/USD gained about 30 pips in Asia after having opened at 0.8878; currently the pair is trading at 0.8910, off the Asian high set at 0.8914

Is there a bottom for Aussie?

AUD/USD dipped below psychologically important level of 0.8900 and touched new multi-month lows at 0.8820 on Monday. Investors hurried to get rid of Aussie, scared by the slump of commodity assets. Though preliminary Chinese PMI in manufacturing surged to 50.5 in is September from 50.2 in August, exceeding expectations. This news helped Aussie to recover towards 0.8910. from the technical point of view, 0.8960 resistance is likely to cap the upside correction during the day, though once it is broken, Aussie might extend the upside towards 0.9000, and its short-term perspectives might brighten a tad. The support is seen at 0.8900 and 0.8868.

What are today’s key AUD/USD levels?

Today's central pivot point can be found at 0.8892, with support below at 0.8833, 0.8793 and 0.8734 with resistance above at 0.8932, 0.8991 and 0.9031. Hourly Moving Averages are bearish, with the 200SMA bearish at 0.9017 and the daily 20EMA bearish at 0.9126. Hourly RSI is bullish at 57.

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