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AUD/USD moving on up to challenge key resistance

FXStreet (Barcelona) - AUD/USD is trading at 0.8768, up 0.36% on the day, having posted a daily high at 0.8775 and low at 0.8723.

AUD/USD is extending the upside and is testing the resistance here ahead of key 0.8780 after a series of releases that included the building permits and trade numbers. The Australian Trade Deficit dropped to 795 million vs 1.395 billion previous. Valeria Bednarik, chief analyst at FXStreet explained that. a recovery beyond 0.8800 should signal an interim bottom in place, and a steadier recovery for the upcoming days.

Support levels: 0.8710 0.8680 0.8635

Resistance levels: 0.8800 0.8840

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