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AUD/USD at lowest levels since March

FXStreet (Barcelona) - AUD/USD is trading at 0.8838, down -0.39% on the day, having posted a daily high at 0.8930 and low at 0.8831.

Despite Chinas positive news overnight in manufacturing remaining above the 50 number, the AUD/USD was heavily offered in the Europe and the US. The pair remains in negative territory and picking up the pieces here from above the 0.89 handle. Meanwhile, the RBA releases its semi-annual Financial Stability Review later on. Analysts at RBS explained that of note will be any hints over whether the RBA is considering reintroducing macro-prudential measures to cool the housing market. Governor Stevens may also use a speech this Thursday to further the debate on macro-prudential measures. “With a more coordinated downturn in commodities and increasing risk of macro-prudential measures in Australia, we see risks biased toward a further decline in AUD”.

AUD/USD hourly levels

Spot is presently trading at 0.8838, and next resistance can be seen at 0.8853, 0.8859 (Weekly Classic S1) and 0.8873, Support below can be found at 0.8833 (Daily Classic S1), 0.8793 (Daily Classic S2) and 0.8734 (Daily Classic S3).

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