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AUD/USD drifts lower, 0.8800 pivot in focus

FXStreet (Moscow) - AUD/USD  is consolidating in a narrow range with bearish bias on Friday. The pair is trading at 0.8824 after having opened the session at 0.8837.

AUD/USD lived through a volatile session on Thursday. The pair touched the intraday low at 0.8754 but managed to end the day well above 0.8800 pivot on the back of USD weakness following the controversial Q3 GDP report. Australian Producer Price Index and Private sector credit reports came out better than expected, but investors chose to ignore them as they are focused mostly on US macro statistics. In this vein US PCE and personal income/spending data might become a good market mover for the pair later during the day. From the technical point of view, a daily (and weekly) close above 0.8800 is needed to improve the technical picture. A sustained break above this pivot would bring 0.8750 support in focus. The nearest resistance is seen at 0.8837 and followed by 0.8850.

What are today’s key AUD/USD levels? 

Today's central pivot point can be found at 0.8811, with support below at 0.8779, 0.8724 and 0.8692, with resistance above at 0.8866, 0.8898 and 0.8953. Hourly Moving Averages are mixed, with the 200SMA bullish at 0.8804 and the daily 20EMA flat at 0.8810. Hourly RSI is bullish at 53.

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