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AUD/USD regains 0.8600 but lacks momentum

FXStreet (Córdoba) - AUD/USD came under pressure despite firm Australian data and briefly dropped below 0.8600 to hit a 4-day low before recovering slightly.

AUD/USD is falling for a second day in a row as the dollar resumes the advance after Friday’s US nonfarm payrolls shock. AUD/USD hit a low of 0.8590 but managed to recover slightly to currently trade at 0.8613, still a few pips below its opening price. With US markets closed due to the Veterans Day, trading is likely to remain subdued.

AUD/USD technical levels

In terms of technical levels, AUD/USD could find immediate supports at 0.8590 (Nov 11 low), 0.8565 (Nov 5 low) and 0.8540 (2014 low Nov 7). On the other hand, resistances are seen at 0.8650 (Nov 11 high), 0.8682/85 (Nov 10 high/10-day SMA) and 0.8700 (psychological level).

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