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AUD/USD keeps the upper band near 0.8840

FXStreet (Edinburgh) - AUD/USD is now sidelining around the 0.8830 level, as markets are heading towards the last trading hour of the NA session.

AUD/USD eyes on the RBA

The pair is finishing the week in a positive note once again, posting weekly gains for the fourth consecutive time and thus extending the rebound from the mid-0.8600s. The present week was dominated by overseas events rather than domestic releases; however, the AUD managed to cope with the resurgence of the greenback, retaking and advancing beyond the 0.8800 limestone. Next of relevance in Oz will be the trade balance figures followed by the RBA Interest Rate Decision, all due on Tuesday. “With commodities also mostly ranging, we stick with a neutral bias on the week, 0.88 one month, 0.90 year-end”, argued Sean Callow, Strategist at Westpac.

AUD/USD key levels

The pair is now advancing 0.40% at 0.8835 and a surpass of 0.8899 (high Oct.9) would aim for 0.8927 (high Sep.23) and then 0.8950 (high Sep.22). On the flip side, the initial support aligns at 0.8796 (low Oct.28) followed by 0.8719 (low Oct.24) and finally 0.8642 (low Oct.3).

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