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AUD/USD advances limited - FXStreet

FXStreet (Barcelona) - Valeria Bednarik, chief analyst at FXStreet noted the Australian dollar advancing up to 0.8786 against the greenback overnight, finding some support in golds positive tone.

Key Quotes:

“The 1 hour chart shows price holding above a still bullish 20 SMA while indicators eased from overbought levels now flat in positive territory, far from suggesting a bearish move”.

“In the 4 hours chart however, 20 SMA capped the upside while indicators stand directionless in negative territory, limiting chances of a stronger advance”.

“The main resistance stands at 0.8820 23.6% retracement of the latest daily bearish run, with a break below 0.8730 signaling a probable bearish continuation for this Tuesday”.

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