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AUD/USD consolidates into closing session

FXStreet (Barcelona) - AUD/USD is trading at 0.8758, down -0.03% on the day, having posted a daily high at 0.8768 and low at 0.8754.

AUD/USD is being pressured on the offer into Asia and remains in a tight range at the end of the week. The pair has been a bearish play from above the 0.88 handle and has been consolidating the decent within a 35 pip range overnight. The data in the US wasn’t “all that” and was quite mixed in fact with a poor markit manufacturing print and a slight improvement in jobless claims. But it was enough to give traders an excuse to get long of the greenback when coupled with solid gains amongst American indexes.

As we move over to next week, where there could be some action around the US data and FOMC, the pair is unlikely to give us much of a show and consolidation is likely to remain the theme into the close for Asia.

AUD/USD noteworthy levels

Spot is presently trading at 0.8759, and next resistance can be seen at 0.8762 (Daily Open), 0.8768 (Hourly 20 EMA), 0.8768 (Daily High), 0.8768 (Hourly 200 SMA) and 0.8780 (Daily Classic PP). Next support to the downside can be found at 0.8754 (Daily Low), 0.8752 (Weekly Classic PP), 0.8749 (Yesterday's Low), 0.8744 (Weekly Low) and 0.8744 (Daily Classic S1).

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