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AUD/USD retakes 0.8800

FXStreet (Edinburgh) - The Aussie dollar keeps pushing higher as we enter the last part of today’s session, lifting the AUD/USD back to the 0.8800 neighbourhood.

AUD/USD looks to US NFP

The recent trade balance figures in Oz have been the last relevant data of the week, with second-tier domestic New Home Sales gauged by HIA due tomorrow. Instead, the next risk event for the pair will be the Friday’s US Payrolls. Market consensus expects the US economy to have created 215K jobs during September, adding to the current USD upbeat momentum. “The weak Retail Sales data sent AUD plunging to a low of 0.8663 which is juts above the ytd low of 0.8660. the subsequent sharp rebound appears incomplete and could extends towards 0.8770/75 but sustained up-move appears unlikely at this stage. Strong intraday support is at 0.8705”, commented analysts at UOB Group.

AUD/USD levels to consider

The pair is up 0.77% at 0.8805 with the next resistance at 0.8813 (high Sep.29) followed by 0.8885 (high Sep.25) and then 0.8897 (high Sep.24). On the flip side, a breakdown of 0.8663 (low Oct.1) would open the door to 0.8660 (low Jan.24) and finally 0.8500 (psychological level).

USD/CAD comes with an air of caution

USD/CAD is trading at 1.1151, down -0.11% on the day, having posted a daily high at 1.1179 and low at 1.1070.
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