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AUD/USD again mentioned as overvalued by RBA spokesman

FXStreet (Guatemala) - AUD/USD is trading at 0.8630, up 0.01% on the day, having posted a daily high at 0.8636 and low at 0.8613.

AUD/USD on this occasion was a non-event around RBA spokesmen speeches. The AUD/USD was moving in a range of 15 pips around the speech.

Alex Heath, who is Head of Economic Analysis Department of the RBA, was speaking at a mining industry conference who noted that a drop of mining investment is a drag on growth although feels China’s huge apatite for commodities in iron ore and coal make a positive contribution to Australia’s growth and GDP. The dampener was he mentioned the Aussie as being overpriced in respect of its fundamental value.

AUD/USD noteworthy levels

Spot is presently trading at 0.8630, and next resistance can be seen at 0.8641 (Weekly Classic S1) and 0.8649 (Daily Classic PP). Support below can be found at 0.8617 (Hourly 20 EMA), 0.8568 (Daily Classic S1), 0.8540 and 0.8405.

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