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AUD/USD in a 0.8690-0.8900 range head of NFP’s

FXStreet (Guatemala) - AUD/USD is trading at 0.8797, down -0.06% on the day, having posted a daily high at 0.8805 and low at 0.8791.

AUD/USD was muted o the second tier data in AiG Performance of Services Index that arrived at 45.4. Previously, the pair has been range bound on support 0.8760 but had reached onto the handle and scored a spike into 0.8820 territory. Ipek Ozkardeskaya is an FX Analyst at Swissquote Bank and she explains that what kept AUD and NZD in demand has been the easing property restrictions in China. “AUD/USD rebounded from yesterday’s 0.8663 low (a stone’s throw higher than 0.8660 year-low). The Antipodeans remain highly sensitive to US yields. A pick-up in UST yields should quickly reverse direction”. Meanehile, technically, Sean Callow, Westpac FX analyst said that he expects the Aussie to avoid retesting the 0.8660 level, with a rough 0.8690 – 0.8900 range over coming days. Looking ahead, the market is setting up for the US shift and Non farm payrolls showdown. Sean Callow explained that after the large downside miss on headline payrolls in Aug (142k versus 230k expected), consensus looks for a resumption of >200k job creation.

AUD/USD key levels

Support levels: 0.8765 0.8720 0.8680

Resistance levels: 0.8810 0.8840 0.8890

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