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Aussie gains post RBA minutes

FXStreet (Mumbai) - The Australian dollar gained against the greenback after the Reserve Bank of Australia (RBA) minutes, which showed the bank intends to hold interest rates at record lows for an extended period of time.

The AUD/USD pair traded 0.42% higher at 0.8742 levels, at the time of writing. The currency gained despite as the bank said low rates were necessary to support growth. However, the gains ion the AUD/USD pair may be limited as the central bank said the current remains overvalued.

Meanwhile, the US Dollar has weakened across the board tracking the weakness in the US treasury yields.

AUD/USD Technical Levels

The pair currently trades around the immediate resistance located at 0.8745-0.8750, above which it can rise to 0.8772 levels. Meanwhile, support is seen at 0.8714 and 0.8696.

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