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AUD/USD supported around 0.8660

FXStreet (Edinburgh) - The Aussie dollar is one of the worst G10 performers on Wednesday, pushing AUD/USD to session lows in the 0.8660 neighbourhood.

AUD/USD weaker on USD sentiment

The re-emergence of the US dollar is confining the pair to the lower band of the weekly range so far, eroding recent gains after hitting peaks around 0.8740. Data wise in Oz, the Leading Index tracked by Westpac improved to 0.0% MoM in October, up from the previous contraction of 0.1%. Further releases in the region showed a steady BoJ in its monetary policy meeting, acting in line with the broader consensus. Strategists at UOB Group suggested “the current consolidation phase still appears to be intact and further sideway trading is likely for today”.

AUD/USD levels to watch

At the moment the pair is losing 0.61% at 0.8673 with the next support at 0.8648 (low Nov.14) followed by 0.8540 (low Nov.7) and then 0.8500 (psychological level). On the flip side, a breakout of 0.8747 (high Nov.18) would aim for 0.8789 (50-d MA) and finally 0.8796 (high Nov.17).

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