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AUD/USD's bounce at 0.8695 vanishes and returns to 0.8700

FXStreet (San Francisco) - After declining 100 pips from 0.8795, the AUD/USD found a buying interest in 0.8695 that sent it back to 0.8720; however, the strength of the Aussie was not strong enough and the pair is now near to 0.8700.

Currently, AUD/USD is trading at 0.8711, down 0.53% on the day, having posted a daily high at 0.8798 and low at 0.8695. The hourly FXStreet OB/OS Index is showing neutral conditions, alongside the FXStreet Trend Index which is slightly bearish.

AUD/USD sentiment

According to FXStreet chief analyst Valeria Bednarik, the "upcoming direction will likely be linked to RBA Stevens words rather than technical readings, with 0.8650 being the critical support to follow, as if below, stops will likely be triggered and the downside extended."

Below 0.8650, next supports are at 0.8590, and 0.8550. To the upside, resistances are at 0.8720, 0.8760 and 0.8800.

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