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AUD/USD regains 0.7000 as risk aversion eases

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 7, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Córdoba) - The Australian dollar, which was among the worst performers on Thursday, managed to recover ground against the greenback at the beginning of the New York session, with news that China suspended the stock circuit breaker rule lifting markets sentiment.

    AUD/USD broke below the 0.70 mark and fell to an over 3-month low of 0.6979 weighed by concerns over China, but managed to trim losses during the last minutes. At time of writing, the pair is trading at 0.7014, still down 0.79% on the day.

    AUD/USD levels to watch


    As for technical levels, immediate supports are seen at 0.6979 (Jan 7 low), 0.6936 (Sep 29 low) and 0.6900 (psychological level). On the other hand, resistances line up at 0.7085 (Jan 7 high), 0.7100 (psychological level) and 0.7165 (100-day SMA).
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