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FxWirePro: AUD/USD Daily Outlook

AUD/USD chart - Trading View 

Technical Analysis: Bias Bullish

- AUD/USD was trading 0.15% higher on the day at 0.7562 at around 09:15 GMT

- The pair is extending gains for the 3rd consecutive session 

- Price action has edged above 200-DMA, close above will negate further bearishness

- RSI has bounced off near oversold levels and Stochs are on verge off bullish rollover 

- GMMA indicator shows major and minor trend are neutral with a bearish bias

Support levels - 0.7535 (5-DMA), 0.7497 (Lower BB), 0.7447 (55-week EMA)

Resistance levels - 0.7614 (200H MA), 0.7649 (21-MA), 0.7691 (55-EMA)

Summary: Reserve Bank of Australia (RBA) Assistant Governor Luci Ellis said that the board remains committed to “maintaining highly supportive monetary conditions.” Escalating between Australia and China exert downside pressure on the pair. Watch out for close above 200-DMA for further upside.  

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