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AUD/USD trying to rise from knees, off Asian lows

FXStreet (Moscow) - AUD/USD  has recovered from Asian lows of 0.8702 towards its current level of 0.8728; upside recovery is slow.

AUD/USD finished week with marginal losses after a failed attempt to break above 0.8900 pivot (Weekly high was set at 0.8910) From the technical point of view it means that the upside correction ran out of steam. The pair started the Asian session with a gap lower at 0.8754 after having finished Friday at 0.8797. The bearish dynamics gained traction after a disastrous build permits report that registered 11% m/m and 13.4% y/y drop in September. While investors a a bit nervous ahead of RBA’s rate decision, scheduled for tomorrow, a failure to go past 0.8700 pivot might limit the intraday downside and push Aussie higher, towards the gap area.

What are today’s key AUD/USD levels? 

Today's central pivot point can be found at 0.8806, with support below at 0.8716, 0.8702 and 0.8668, with resistance above at 0.8848, 0.8896 and 0.8938. Hourly Moving Averages are mostly bearish, with the 200SMA bearish at 0.8802 and the daily 20EMA flat at 0.8809. Hourly RSI is bearish at 34.

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