The AUD/USD pair moved higher today and is going to close around 0.7940.
Monday's high remains below with several pips, having in mind that the pair
reached 0.7970 before retreating.
The Aussie was was supported by the copper, that rallied to five-month high
because of the the large Chinese demand and supply issues.
Tomorrow the release radar is on Australia’s Q2 CPI with expectations slight
above previous quarter. On the other side all ayes are on FOMC meeting and it
will be curious how the pair will develop.
Technically speaking the four-hour time frame is showing neutral to bullish
stance. The price is moving slightly above its 20-day SMA. RSI and stochastic
are located above their mid-lines and both are loosing directional strength.
Friday's low at 0.7870 remains first support, while first resistance is seen at
0.7985
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