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AUD/USD treading an upside bias start of week

FXStreet (Guatemala) - AUD/USD is trading at 0.8648, up 0.18% on the day, having posted a daily high at 0.8659 and low at 0.8637.

AUD/USD has some support at the start of the week with Australia Home Loans beating expectations at -1% in September vs actual reading of -0.7%. Also, we had the Chinese that was released over the weekend with its trade balance figures for October coming in with a positive headline. We will also have the inflation data for China and the PPI readings that are coming up. The pairs next target to the upside would be the 0.87 handle at this rate and 0.8620 guards the downside at the start of tis week.

AUD/USD noteworthy levels

Current price is 0.8648, with resistance ahead at 0.8681 (Daily Classic R1), 0.8700 and 0.8725 (Hourly 200 SMA). Next support to the downside can be found at 0.8646 (Weekly Classic PP), 0.8643 (Hourly 100 SMA), 0.8611 (Daily Classic PP) and 0.8608 (Hourly 20 EMA).

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