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AUD/USD recovering; Asian high in sight

FXStreet (Moscow) - AUD/USD  is back above 0.8700 after having touched the Asian low at 0.8674. The pair is trading at 0.8734 with 20 pips gain on the day so far.

Poor inflation figures from China pushed Aussie towards current intraday low at 0.8674. The Australian economy relies heavily on Chinese export, thus any sighs of economic cool down weight heavily on Aussie. The downside stalled on approach to the pivotal support at 0.8660. Strong demand clustered around that level stopped the downside and helped Aussie to return back above 0.8700 level. Later during the day don’t miss US retail sales numbers and Fed’s Beige book as they might influence overall USD sentiments. From the technical point of view, 0.8700 is the key level. Daily close below this pivot would strengthen the bearish case and trigger the sell-off with the initial aims at 0.8674 and 0.8660

What are today’s key AUD/USD levels? 

Today's central pivot point can be found at 0.8741, with support below at 0.8667, 0.8621 and 0.8547 with resistance above at 0.8787, 0.8861 and 0.8907. Hourly Moving Averages are mixed, with the 200SMA bearish at 0.8763 and the daily 20EMA bearish at 0.8836. Hourly RSI is bullish at 52.

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