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AUD/USD Price Analysis: Aussie gets small rebound from one-decade low

  • AUD/USD rebounds modestly from one-decade low. 
  • A bullish correction up cannot be ruled out.
 

AUD/USD daily chart

 
AUD/USD is hovering near one-decade lows while trading well below its main daily simple moving averages (SMAs).
 

AUD/USD four-hour chart

 
The trend is bearish, however, as USD is losing steam a bullish correction cannot be ruled out. A break beyond the 0.6587 level could attract buying interest towards the 0.6635 and 0.6759 levels. Support is seen near 0.6560 and 0.6532 levels, according to the Technical Confluences Indicator.
 
 
Resistance: 0.6587, 0.6635, 0.6649
Support: 0.6560, 0.6532, 0.6520
 
 

Additional key levels

 

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