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AUD/USD trims gains after reaching 0.8860

FXStreet (Córdoba) - AUD/USD jumped to 0.8860 as the US dollar collapsed across the board, reaching the strongest level since last Thursday and the trimmed gains. The pair pulled back almost a hundred pips and found support at 0.8775/80. Currently trades at 0.8790/95, 80 pips above today’s opening price.

AUD/USD remains sideways

Despite the increase in volatility, price action still remains inside last week range. Yesterday bottomed at 0.8672 but then rebounded and today peaked at 0.8860, that is below last week highs that lie at 0.8898.

The short term outlook remains sideways with a slightly bullish bias. Still on a wider perspective, the trend point to the downside.

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