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AUD/USD remains capped by 0.8800

FXStreet (Córdoba) - AUD/USD managed to advance during the Asian session amid a positive mood in financial markets, although the rise halted ahead of the 0.8800 level.

AUD/USD stalled at the 0.8790 zone, but with the subsequent pullback being contained around 0.8750, the pair is back headed north, aiming to retest the upper-side of the range. At time of writing, AUD/USD is trading at 0.8775, up 0.14% on the day.

AUD and NZD were among the best performers during the Asian session, supported by stocks rise, but pulled back during European hours as risk appetite ebbed. RBA latest meeting minutes and Chinese GDP figures will likely drive the Aussie on Tuesday.

AUD/USD technical levels

In terms of technical levels, if AUD/USD breaks above the 0.8790 area, next resistances are seen at 0.8810 (Oct 17 high) and 0.8860 (Oct 15 high). On the other hand, supports could be found at 0.8730 (Oct 17 low), 0.8700 (psychological level) and 0.8685 (Oct 16 low).

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