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AUD/USD back to 0.8700

FXStreet (Edinburgh) - The Aussie dollar is wobbling around 0.8700 the figure on Thursday, with AUD/USD coming down from overnight peaks near 0.8730.

AUD/USD hurt by Kent

Spot briefly visited session lows around 0.8670 on dovish appreciations by RBA Assistant Governor Kent, after he did not rule out ‘FX intervention’ during the Q&A session following his speech today. Data wise in Oz, Consumer Inflation Expectation rose 4.1% in October, surpassing the previous 3.4% advance. In China, industrial Production and Retail Sales figures came in slightly below consensus in October, expanding 7.7% and 11.5% YoY. Sean Callow, Strategist at Westpac, noted “AUD/USD has a large buff er above the 4 year lows in the mid-0.85s. A quiet local calendar should keep ranges fairly tight”.

AUD/USD levels to watch

As of writing the pair is retreating 0.16% at 0.8704 with the next support at 0.8672 (low Nov.12) ahead of 0.8600 (psychological level) and then 0.8540 (2014 low Nov.7). On the upside, a breakout of 0.8763 (high Nov.5) would expose 0.8854 (high Oct.31) and finally 0.8870 (50-d MA).

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