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AUD/USD clings to 0.8800

FXStreet (Edinburgh) - The Aussie dollar is struggling to keeps the surroundings of 0.8800 the figure on Tuesday, with AUD/USD coming down from overnight peaks near 0.8830.

AUD/USD bolstered by RBA, China

A repetitive (neutral) stance from the RBA – albeit still considering AUD in high levels by ‘historical standards’ – plus very auspicious results from the Chinese GDP figures during the third quarter were enough to pump further buying interest into the AUD, lifting spot to the vicinity of 0.8830. Ahead in the day, Existing Home Sales will be the main event in the US docket ahead of inflation figures in Oz due at the start of the Asian session. Analysts at BBH commented, “Some support appears to have been established just below $0.8700, while the upside appears capped in the $0.8860 area”.

AUD/USD levels to consider

At the moment the pair is up 0.31% at 0.8811 with the next resistance at 0.8885 (high Sep.25) followed by 0.8897 (high Sep.24). On the flip side, a breakdown of 0.8663 (low Oct.1) would open the door to 0.8660 (low Jan.24).

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