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AUD/USD spikes above 0.8800, bulls rejoice

FXStreet (Moscow) - AUD/USD is trying to settle above 0.8800 pivot; the par is trading at 0.8808, close to Asian high set at 0.8816

Aussie stays above 0.8700

AUD/USD touched fresh weekly lows on Wednesday and stopped short at 2014 low. Aussie managed to recover some losses during NY hours and finished the day above 0.8700 level, which means that the downside momentum has waned, though the pair remains vulnerable to new losses on the back of USD strength across the board. Aussie building approvals came out better than expected, while Trade balance improved due to lower export decline. Markets used these numbers as a pretext to exit from short Aussie positions From the technical point of view, the key levels to watch today: 0.8800/20 on the upside and 0.8700 on the downside

What are today’s key AUD/USD levels?

Today's central pivot point can be found at 0.8717, with support below at 0.8683, 0.8628 and 0.8594 with resistance above at 0.8806 and 0.8861. Hourly Moving Averages are mixed, with the 200SMA bullish at 0.8803 and the daily 20EMA bearish at 0.8949. Hourly RSI is bullish at 73.

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