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AUD/USD on mend, approaching 0.8770 resistance

FXStreet (Moscow) - AUD/USD has recovered towards 0.8767 after having set the Asian low at 0.8717. The pair is trading marginally higher on the day.

Aussie registered the third bearish close in a row and continued the series of lower daily highs. Potentially, this is a bearish signal, though we need a confirmation in the form of daily close below 0.8700 before we may safely claim that the pair is back on its way to the South. Aussie experienced a slump during Tokyo hours with no major Australian news to support the movement. A number of major banks adjusted their RBA rate forecasts, which might have weighted on the sentiments. Later during the day keep an eye at 0.8717 (Asian low) and 0.8700 with demand on approach. If Aussie drops below this support area, the downside may be extended towards 0.8650. The initial resistance is seen at 0.8770.

What are today’s key AUD/USD levels? 

Today's central pivot point can be found at 0.8773, with support below at 0.8737, 0.8713 and 0.8677 with resistance above at 0.8797, 0.8833 and 0.8857. Hourly Moving Averages are mixed, with the 200SMA bearish at 0.8768 and the daily 20EMA flat at 0.8805. Hourly RSI is bearish at 49.

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