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Forex pairs in this Article » EUR/USD
FXstreet.com (Moscow) - AUD/USD is under selling pressure during Asian hours, as the pair moved to intraday low of 0.9019 form the opening level of 0.9057.

AUD/USD pares gains

AUD/USD has started the downside correction, though the longer-term bias is still bullish as long as the pair trades above 0.9000. The currency pair reached the high of 0.9088 yesterday. This is the highest level from mid-December, but failed to stay above daily 50EMA (now comes at 0.9038). We believe that the intraday correction will be limited by the above mentioned key support level of 0.9000, which is reinforced by hourly 50EMA at 0.9007. Moreover, today the market is focused on the US retail sales report. This is a powerful market mover. If the data is below forecast (the consensus is feeble 0.1% m/m), the USD will be sold across the board, and the AUD/USD may resume its upside run.

What are today’s key AUD/USD levels?

Today's central pivot point can be found at 0.9044, with support below at 0.9001, 0.8940 and 0.8897, with resistance above at 0.9105, 0.9048, and 0.9209. Hourly Moving Averages are mixed, with the 200SMA at 0.8925 and the daily 20EMA at 0.8962. Hourly RSI is neutral at 50.21.
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