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AUD/USD climbs beyond 0.8600

FXStreet (Edinburgh) - After hitting fresh 4-year lows near 0.8550, AUD/USD is back above 0.8600 amidst a renewed upbeat sentiment around the risk appetite.

AUD/USD boosted by data

The AUD reacted positively after the employment in Oz increased by 24.1K during October, surpassing previous estimates and leaving behind September’s 23.7K drop; the jobless rate stayed put at 6.2% vs. 6.1% forecasted. The auspicious readings allowed spot to sharply bounce off the mid-0.8500s back to levels above the 0.8600 handle. Next of note for AUD will be tomorrow’s RBA Statement of Monetary Policy ahead of US Payrolls (231K exp.). “Fresh lows since mid-2010 seem highly likely, around 0.8500 or below. Yet we are not inclined to chase AUD lower over the whole week”, suggested Sean Callow, Strategist at Westpac.

AUD/USD levels to watch

At the moment the pair is advancing 0.17% at 0.8608 with the next hurdle at 0.8899 (high Oct.9) would expose 0.8912 (high Oct.29) and then 0.8927 (high Sep.23). On the flip side, a breach of 0.8553 (2014 low Nov.6) would expose 0.8500 (psychological level).

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