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AUD/USD seeking a positive close

FXStreet (Guatemala) - AUD/USD is trading at 0.8746, up 0.35% on the day, having posted a daily high at 0.8774 and low at 0.8648.

AUD/USD in on a roll, as with other majors taking back some of the ground lost to the greenback this week. However, the pair needs a close here and as analysts at UOB Group madeclear, only a break above 0.8765/70 would indicate a sustained mid- term up-move has started. “AUD touched a high of 0.8765 but the subsequent pull-back suggests that this pair may not be ready for a move higher just yet”. The analysts further added that the undertone is clearly positive and the support at 0.8590 is expected to hold going into the early part of next week.

AUD/USD noteworthy levels

With spot trading at 0.8747, we can see next resistance ahead at 0.8751 (Weekly Classic R1), 0.8764 (Daily Classic R1), and 0.8812 (Daily Classic R2). Support below can be found at 0.8725 (Daily 20 SMA), 0.8718 (Weekly High), 0.8718 (Daily Classic PP) and 0.8708 (Hourly 20 EMA).

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