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AUD/USD bulls stubborn below key 0.86 handle

FXStreet (Guatemala) - AUD/USD is trading at 0.8615, up 0.01% on the day, having posted a daily high at 0.8636 and low at 0.8566.

AUD/USD is defiant of the break of the 0.86 handle overnight and is testing the bears patience with a move back onto the handle, although struggles at 0.8620 for the time being.

The break lower below 0.8600 (on the back of poor Chinese flash PMI’s) is significant but for a sustained bear trend the pair needs a string close or two and in doing so opens up, much to the RBA’s delight, territory to the downside in a continuation of the broader bearish trend. O.7000’s have been marked as the RBA’s preferable levels for the Aussie.

AUD/USD noteworthy levels

Current price is 0.8616, with resistance ahead at 0.8641 (Weekly Classic S1), 0.8649 (Daily Classic PP), 0.8686 (Hourly 200 SMA and Hourly 100 SMA). Next support to the downside can be found at 0.8611 (Hourly 20 EMA), 0.8602 and 0.8568 (Daily Classic S1).

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