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AUD/USD settles in a range

FXstreet.com (Córdoba) - After rallying over 140 pips, rising from a low 1 ½-year low of 0.9527 to a daily high of 0.9670, the Aussie lost momentum and settled in a narrow range where it has spent most of the American session.

AUD/USD was rejected from the 0.9670 area, but with the pullback being contained by the 0.9610 area, the pair was confined to a phase of consolidation. At time of writing, AUD/USD is trading at the 0.9630 area, where it is 0.2% above its opening price.

On the upside, immediate resistances are seen at 0.9670 (daily high) and 0.9700 (psychological level), while on the downside supports could be faced at 0.9590 (low May 23/20-hour SMA) and 0.9527 (daily low).

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