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AUD/USD suffers losses, rejected at key Fib

FXStreet (Mumbai) - The AUD/USD pair fell into losses after it failed to sustain above 0.7270 (23.6% of 0.6907-0.7382) in the European session.

Hovers around 0.7250

The sharp declined in the EUR/USD pair to fresh six month low triggered a broad based USD rally. Consequently, the AUD/USD pair turned lower from the high of 0.7283. The AUD bulls were caught off guard as soon as the pair dipped below 0.7270, thereby opening doors for losses.

The attention now is on the US data - durable goods orders, weekly jobless claims data, and personal spending and income report.

AUD/USD Technical Levels

The immediate support is seen at 0.7222 (hourly 50-MA) and 0.7204 (100-DMA), 0.7201 (38.2% of 0.6907-0.7382). A break lower would expose 0.7151 (50-DMA). On the other side, resistance is seen at 0.7270 (23.6% of 0.6907-0.7382) and 0.73 levels.

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