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FxWirePro: AUD/ USD steadied around 0.6810 ,good to buy on dips

• AUD/ USD steadied on Friday as higher commodities prices and increased risk sentiment supported Australian dollar.

• The Aussie received an additional boost from a positive jobs report, prompting markets to reduce expectations for near-term rate cuts from the Reserve Bank of Australia.

• AUD/USD is approaching the 23.6% fibonacci retracement level. A close above this level could lead to a significant rally towards 0.6850 level.
 
• Immediate resistance is located at 0.6832 (23.6%fib), any close above will push the pair towards 0.6867 (Higher BB).

•  Support is seen at 0.6758 (38.2%fib) and break below could take the pair towards 0.6702(50%fib).

 Recommendation: Good to buy around 0.6780, with stop loss of 0.6620 and target price of 0.6850
 

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