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AUD/USD making fresh yearly low, bulls supporting there

FXStreet (Guatemala) - AUD/USD is trading at 0.8571, up 0.03% on the day, having posted a low at 0.8547.

AUD/USD is moving lower to a new yearly low and through the mid point of the 0.85 handle having stalled there building a base with bulls supporting the pair. The greenback is a favorite across the board ahead of the nonfarm payrolls release later, but this move was on the release of the RBA’s quarterly monetary policy statement where the central bank, as expected, continues to state that the most prudent course is a period of rates stability. In respect to AUD still above estimates of fundamental value, a further fall would help rebalance economy and that low rates, strong population growth will support home building, prices and wealth.

AUD/USD noteworthy levels

With spot trading at 0.8571, we can see next resistance ahead at 0.8570 (Daily High), 0.8574 (Weekly Classic S3), 0.8582 (Daily Classic PP), 0.8583 (Hourly 20 EMA) and 0.8611 (Daily Classic R1). Support below can be found at 0.8547 (YTD low)

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