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AUD/USD consolidated within a choppy range

FXStreet (Guatemala) - AUD/USD is trading at 0.8769, up 0.32% on the day, having posted a daily high at 0.8779 and low at 0.8747.

AUD/USD has spiked on the session moving away from the bottom of the sideways channel that was being challenged earlier on the same note as the market closed last week of a strong greenback. There has not been anything out other than RBA’s Kent that spoke in Adelaide focusing on long term issues. However, the week ahead brings in a couple of releases worth noting from both the US, China and Australia which could bring about further swings ahead of the Fed meeting over 28th and 29th of this month.

First up, though, the RBA’s meetings minutes are this week, then a number of data releases from China come in the form of retail sales, fixed investment, industrial production, and Q3 GDP. Then we get Aussie CPI year on year and Q/Q for the third Quarter. Finally for Australia, we have Glenn Stevens speaking which could bring about further volatility. For the US, we see the Unemployment Claims on Thursday and US New Home Sales on Friday.

AUD/USD noteworthy levels

Spot is presently trading at 0.8771, and next resistance can be seen at 0.8779, 0.8794 (Daily Classic R1), 0.8820 (Daily 20 SMA) and 0.8829. Next support to the downside can be found at 0.8768 (Hourly 200 SMA), 0.8765 (Hourly 20 EMA), 0.8758 (Daily Open) and 0.8755 (Hourly 100 SMA), 0.8690 and 0.8640.

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