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AUD/USD bulls knock at 0.9000

FXStreet (Moscow) - AUD/USD attempted to return above 0.9000 early in Asia and set the intraday high at 0.9022, the Aussie bulls got scared by strong offers located there and AUD/USD dropped to 0.8980; but the pivotal level is attracting them like a magnet

AUD/USD needs to thing things over

Note, that the long term AUD/USD trend is still negative and it looks like the pair have already reached its corrective top. The sustained drop below 0.9000 spoiled the technical picture. Though as long as the pair stays above 0.8900, the bulls may attempt another run at 0.9000. There are no interesting reports either from Australia or China scheduled for today, so the Aussie traders have time to thing things over. From the short term perspective the AUD/USD may be influenced by US data published today and general risk sentiments. Watch for the support level of 0.8960, once broken, the downside will accelerate to 0.8935 with medium demand below. The upside is likely to be limited by 0.9045.

What are today’s key AUD/USD levels?

Today's central pivot point can be found at 0.8990, with support below at 0.8956, 0.8901 and 0.8867, with resistance above at 0.9045, 0.9079 and 0.9134. Hourly Moving Averages are mostly bearish, with the 200SMA at 0.9012 and the daily 20EMA at 0.8952. Hourly RSI is neutral at 50.

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