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AUD/USD clings to 0.8800

FXStreet (Córdoba) - AUD/USD has entered a consolidation phase during the American session, unable to pick up momentum despite broad USD weakness.

The Aussie has proven pretty resilient today despite the negative tone in stocks, with the downside contained by 0.8788 during the European session, confining AUD/USD to a phase of consolidation. At time of wrtiitng, AUD/USD is trading at 0.8805, 0.10% above its opening price.

AUD/USD technical levels

In terms of technical levels, AUD/USD could find immediate support levels at 0.8788 (intraday low), 0.8765 (21-day SMA) and 0.8718 (Oct 24 low). On the other hand, resistances are seen at 0.8823 (intraday high), 0.8859 (Oct 15 high) and 0.8900 (psychological level).

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