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AUD/USD hovering marginally below 0.8800

FXStreet (Moscow) - AUD/USD  dipped to 0.8785 after having started the day at 0.8826; currently the pair is trading at 0.8792.

AUD/USD rushed to and fro within 180-pip range on Wednesday. The pair spiked to the daily high at 0.8859 on the back of massive USD sell-off, triggered by poor US retail sales numbers. Aussie finished the day above 0.8800 level, which signals that technical picture has improved enough to suggest a deeper upside correction at least towards previous week’s high at 0.8897/0.8900. Another positive daily close would confirm this view. RBA’s assist governor Debelle is scheduled to speak later today. Investors will be waiting for comments on exchange rates and hints about RBA’s economy assessment. From the technical point of view, the support is seen at 0.8775/70 (Asian low). The resistance is seen at 0.8826 (Asian opening).

What are today’s key AUD/USD levels? 

Today's central pivot point can be found at 0.8788, with support below at 0.8715, 0.8600 and 0.8527 with resistance above at 0.8903, 0.8976 and 0.9091. Hourly Moving Averages are mixed, with the 200SMA bearish at 0.8763 and the daily 20EMA flat at 0.8835. Hourly RSI is bullish at 56.

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