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AUD/USD retracing from Asian high, still above 0.8800

FXStreet (Moscow) - AUD/USD touched the Asian high at 0.8823, but failed to hold the ground and retraced towards 0.8811; the pair is trading with about 10 pips gain after having started the day at 0.8801.

AUD/USD finished the third positive week. It seems that the pair is poised for more sidelined trading after having bottomed out at 0.8642 in September’14. The Australian macroeconomic calendar os rather boring this week, thus the pair is likely to be driven by technical factors and risk sentiments, with the FED’s rate decision being the biggest driver. From the technical point of view, 0.8800 pivot has been the biggest hurdle for Aussie bulls lately as numerous attempts to stay above this level on daily basis ended in fiasco. Currently AUD/USD is trading at 0.8816 with the next bullish target at 0.8850. A cluster of medium-sized offers spotted there might cap the upside and trigger the downside correction towards 0.8800.

What are today’s key AUD/USD levels? 

Today's central pivot point can be found at 0.8779, with support below at 0.8730, 0.8671 and 0.8622 with resistance above at 0.8838, 0.8887 and 0.8946. Hourly Moving Averages are mixed, with the 200SMA bullish at 0.8771 and the daily 20EMA flat at 0.8803. Hourly RSI is bullish at 59.

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