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AUD/USD capped below 0.9700

FXstreet.com (Barcelona) - AUD/USD is last at 0.9673, about unchanged for the session being after the NY close, less than 1 hour away from domestic data in the form of Private sector credit in Australia at 01:30 GMT. The pair has moved in a wide range of more than 100 pips for the day, still capped below the 0.97 level so far.

As Valeria Bednarik notes, Chief Analyst at Fxstreet.com
: “The hourly chart shows price aiming higher above 20 SMA, while indicators remain around their midlines, with no actual bullish strength. As for the 4 hours chart technical readings maintain a neutral stance, with no much signs of further gains: price needs to accelerate above 0.9700, to suggest an upward movement is underway, with 0.9770 as next resistance to follow,” the analyst says, adding: “The bearish trend however remains in place, so tight stops are a good if buying,” she suggests.

Valeria spots support levels at: 0.9620, 0.9590 and 0.9540, while resistance levels at: 0.9660, 0.9700 and 0.9740.

Commodities Brief: Precious metals catch a bid as USD slides

The precious metals finished the day sharply higher, benefiting from a weak DXY which finished sharply lower down 0.71%
at 83.00 and closing well below key support of 83.50.
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