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FxWirePro: AUD/USD consolidating last week's bull run, edges lower from session highs at 0.7346

  • Doubts about the timing of Fed interest rates hikes kept the dollar subdued on Monday, Dollar index hovers near Friday's 3-week low at at 94.780

  • AUD/USD doji forms in Asian session, Aussie and emerging Asian currencies probably enjoying a temporary bounce

  • The pair has seen a sharp run-up since Sept 29th from 0.6936 levels, market looks overbought and some unwinding possible in the short-term

  • Volumes are likely to be thinner than usual today with Japanese and U.S. markets closed for a public holiday on Monday 

  • Market may take cues from Chinese trade data due Tuesday, as well U.S. retail sales data on Wednesday and the consumer price index on Thursday

  • AUD/USD is currently trading at 0.7329, strong resistance is seen around 0.7329 (cloud base), and support lies at 0.7300 (psychological level)

Resistance Levels:

R1: 0.7329 (Daily Cloud Base)

R2: 0.7344 (Daily High Oct 9)

R3: 0.7400 (Aug 13 highs)

Support Levels: 

S1: 0.7304 (Session Low)

S2: 0.7300 (psychological level)

S3: 0.7246 (Daily Low Oct 9)

  • Market Data
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