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AUD/USD stalls at 0.8820 area - FXStreet

FXStreet (Łódź) - FXStreet Chief Analyst Valeria Bednarik points out that AUD/USD is trading close to the Fibonacci resistance of 0.8820.

Key quotes

"Aussie surged over Asian hours, helped by a better than expected Chinese GDP reading, and a not that dovish RBA Minutes."

"The AUD/USD however, stalled at the Fibonacci resistance of 0.8820, and despite pressuring the level the pair refuses to advance beyond it."

"The 1 hour chart shows 20 SMA offering short term intraday support now around 0.8890, while indicators lack strength yet stand above their midlines."

"In the 4 hours chart technical reading also present a mild positive tone, yet unless a clear acceleration above current levels, the upside remains limited."

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