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AUD/USD ticking lower ahead of Stevens

FXStreet (Guatemala) - AUD/USD is trading at 0.8863, down -0.25% on the day, having posted a daily high at 0.8887 and low at 0.8855.

AUD/USD has been pressured lower down to support and sideways channel base ahead of RBA’s Governor Stevens who is stepping up at the Melbourne Economic Forum today from 12:30pm Syd/10:30am. He will be talking on the “Financial System Reform and the Monetary System”. However, Sean Callow, analyst at Westpac noted that he maybe more likely to touch on themes in yesterday’s Financial Stability Review than address the interest rate outlook. “The RBA site says “remarks and panel participation” but media have been advised that Stevens will deliver only the opening remarks, so markets may well move on quickly”.

AUD/USD support and resistance levels

Support levels: 0.8860, 0.8830 and 0.8800.

Resistance levels: 0.8920, 0.8950 and 0.8990.

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