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Forex: AUD/USD extends the rally above 1.0500

FXstreet.com (Barcelona) - The Aussie dollar is extending its weekly upside leaving behind the key resistance at 1.0500 on Wednesday, despite the weaker Consumer Confidence gauged by Westpac index dropped to 104.9 from 110.5 for the month of April.

Ahead in the week, the unemployment rate is due tomorrow, with market consensus pointing at the jobless rate to stay unchanged at 5.4% while the Employment Change is expected to drop by 50.0K.

At the moment, the cross is up 0.14% at 1.0505 and a surpass of 1.0555 (high Jan.24) would open the door to 1.0578 (high Jan.22) and finally 1.0580 (high Jan.16).
On the downside, support levels line up at 1.0438 (MA10d) ahead of 1.0423 (MA21d) and then 1.0405 (low Apr.9).

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