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AUD/USD climbs to 2-week highs

FXStreet (Córdoba) - AUD/USD is extending gains into a fifth consecutive day Tuesday, having scored a fresh 2-week high underpinned by RBA rhetoric.

While the central bank decided to leave monetary policy unchanged with the main rate at 2.0%, Governor Stevens sounded little worried about economic slowdown in the region.

AUD/USD reached its highest level since September 22 at 0.7137 in recent dealings but lost momentum to extend gains beyond that level. At time of writing, the pair is trading at 0.7130, recording a 0.72% gain on the day.

AUD/USD technical view

From a technical perspective, Valeria Bednarik, chief analyst at FXStreet notes that the pair holds a bullish short-term tone, which suggests further advances, particularly on a break above 0.7140.

Next resistances are seen at 0.7170 (50-day SMA) and 0.7200 (psychological level), while supports could be found at 0.7065 (Oct 6 low), 0.7032 (10-day SMA) and 0.7002/00 (Oct 2 low/psychological level).

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