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  |   Technicals


FxWirePro: AUD/USD Daily Outlook

Chart - Courtesy Trading View 

Technical Analysis:

- AUD/USD was trading 0.80% higher on the day at 0.6966 at around 10:15 GMT

- The pair has retraced most of previous session's losses, retests 55-EMA and cloud resistance

- Bullish RSI divergence on the daily charts keeps scope for further upside

- Stochs are biased lower and RSI remains flatlined around 50 mark

- MACD supports upside, but ADX still favors weakness in the pair

Support levels:

S1: 0.6927 (21-EMA)

S2: 0.6904 (20-DMA)

Resistance levels:

R1: 0.6965 (55-EMA)

R2: 0.7049 (110-EMA)

Summary: AUD/USD pivotal at 55-EMA and daily cloud resistance. Watch out for decisive break above for upside continuation. Looking forward, focus will be on US inflation data, scheduled for publishing on Wednesday.

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