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AUD/USD downside risks deteriorating

FXStreet (Barcelona) - AUD/USD is trading at 0.8859, up 0.64% on the day, having posted a daily high at 0.8884 and low at 0.8795.

AUD/USD continues to bring in bullish scores on the board with yet a further advancement on the 0.88 handle. The pair spiked along with other majors vs the dollar on the back of the weak durable goods numbers to 0.8880 resistance and the aforementioned high and settled back on the consumer confidence results that were positive.

With such advancements it put the downside into question for the time being, until at least we hear from Yellen who obviously will note that a rate rise has to come at some point next year, but may retain a dovish tone so not to rattle the markets.

AUD/USD noteworthy levels

With spot trading at 0.8859, we can see next resistance ahead at 0.8861 (Daily Classic R3), 0.8884 (Daily High), 0.8897 (Weekly Classic R2), 0.8960 (Weekly Classic R3) and 0.9164 (Daily 200 SMA). Support below can be found at 0.8844 (Weekly Classic R1), 0.8843 (Daily Classic R2), 0.8841 (Monthly High), 0.8834 (Hourly 20 EMA) and 0.8826 (Yesterday's High).

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