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AUD/USD stalled at 0.8800

FXStreet (Edinburgh) - The AUD is now surrendering part of the recovery from session lows in the mid-0.8700s, dragging the AUD/USD back to the 0.8770/75 region.

AUD/USD weaker after US docket

The intraday rebound in the AUD was hampered by the results from the US docket, showing that the economy expanded in line with expectations 4.6% over the last twelve months in Q2; in the same line, headline consumer prices tracked by the PCE rose 2.3% YoY and Core prices gained 2.0%. “With global risk appetite levels still soggy, the pair is currently contemplating a break below the 0.8800 region with little of consequence till 0.8660 while 0.8840 may cap in the near term”, noted Emmanuel Ng, FX Strategist at OCBC Bank.

AUD/USD key levels

As of writing the pair is losing 0.07% at 0.8781 with the immediate support at 0.8730 (low Feb.4) ahead of 0.8695 (low Jan.31) and then 0.8678 (low Jan.27). On the flip side, a breakout of 0.8885 (high Sep.25) would expose 0.8897 (high Sep.24) and finally 0.8927 (high Sep.23).

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