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AUD/USD downside contained 0.8720

FXStreet (Córdoba) - AUD/USD surrendered intraday gains and dipped into negative territory for the day after being rejected by the 0.8795 area where it peaked during the Asian session.

AUD/USD was weighed by the risk averse mood and dropped more than 70 pips over the last hours to hit a low of 0.8720 before settling in a slim range. At time of writing, AUD/USD is trading at the 0.8730 zone, down 0.23% on the day.

It is a quiet day ahead data-wise, with the NY Empire State manufacturing index and US industrial production data on tap.

AUD/USD technical levels

In terms of technical levels, immediate resistances are seen at 0.8795/0.8800 (Nov 17 high/psychological level), 0.8807 (50-day SMA) and 0.8850 (Oct 31 high). On the flip side, supports could be found at 0.8720 (Nov 17 low), 0.8700 (psychological level) and 0.8674 (10-day SMA).

has broken the 1.2500 support, but found another one near the 1.2384 level, being the 23.6% retracement from the 2012 impulse wave. There is little conviction from a technical point of view, as the n

Not much going on in the euro area at the beginning of the week, with EUR/USD keeping the trade in sub-1.2500 levels so far...
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