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AUD/USD may see further advances - FXStreet

FXStreet (Bali) - According to Valeria Bednarik, Chief Analyst at FXStreet, from a 4h chart perspective, indicators in AUD/USD are biased higher above their midlines, supporting further advances.

Key Quotes

"Australian dollar took a breath on Thursday, recovering up to current 0.8800 price zone against the greenback. Chinese non-manufacturing PMI will be release over Asian hours, and if the reading is positive, may help Australian dollar extend its recovery."

"At this point, the short term shows some bearish divergences, with the 1 hour chart showing a higher high in price as momentum crosses its 100 level. But RSI remains above 50, and 20 SMA heads higher below current price, giving little support to a short term slide at the time being."

"In the 4 hours chart indicators are biased higher above their midlines, supporting further advances, will pullbacks down to 0.8765 hardly affecting current positive tone."

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