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AUD/USD mellows on the back of kiwi demise


FXStreet (Moscow) - AUD/USD crashed to the Asian low at 0.8817 after having opened at 0.8882; the pair is under selling pressure in Asia due to knock on effect from kiwi demise.

Where are buyers?

Aussie managed to reverse some ground on Wedmesday, but the bulls’ happiness was short-lived as the currency came under renewed downside pressure early in Asia today. The downside was caused mainly by kiwi sell-off following RBNZ's Wheeler’s comments about fundamentally unjustified NZD strength. RBA’s Stevens’ confirmed that the central bankers are worried about overheating on the housing market. AUD/USD partially recovered from early losses on his comments, but the short-term bearish outlook remains entrenched while the pair trades below 0.8874 pivot.


What are today’s key AUD/USD levels?

Today's central pivot point can be found at 0.8874, with support below at 0.8849, 0.8813 and 0.8788 with resistance above at 0.8910, 0.8935 and 0.8971. Hourly Moving Averages are bearish, with the 200SMA bearish at 0.8959 and the daily 20EMA bearish at 0.9079. Hourly RSI is bearish at 27.

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