FXStreet (Moscow) – AUD/USD recovered from the Asian low at 0.8693 and climbed close to the resistance of 0.8770 on the back of positive Aussie sentiments.
The respite is temporary
Aussie regained ground above 0.8700 pivot after a disgraceful decline towards 0.8686 on Monday. The recovery was caused mainly by technical factors and profit-taking from deeply oversold levels as fundamental picture remained basically unchanged. Despite current upside correction, from the longer-term perspective AUD/USD is vulnerable to a further move lower due to its strong correlation with US Treasuries and rather dovish sentiments among RBA officials. Later during the day don’t miss Chicago PMI and US consumer sentiment index as they may shape USD dynamics and thus influence AUD/USD movements. The key levels to watch: 0.8790 and 0.8813 on the upside and strong demand at 0.8680 on the downside.
What are today’s key AUD/USD levels?
Today’s central pivot point can be found at 0.8721, with support below at 0.8681, 0.8623 and 0.8606 with resistance above at 0.8759, 0.8799 and 0.8837. Hourly Moving Averages are bearish, with the 200SMA bearish at 0.88862 and the daily 20EMA bearish at 0.8995. Hourly RSI is bullishat 59.
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