- AUD/USD moving towards support level
- Tentative deal reached to avoid US government shutdown
Price Movement
Since yesterday, AUD/USD had moved down by around 30pips.
Trend
AUD/USD is currently on a downtrend.
Macro Background
No major economic data release.
Important Issue
U.S. congressional negotiators have reached a tentative deal to fund the government and avoid a future government shutdown. The passing of the deal will prevent those employees who were affected during the 35-day partial government shutdown from having to once again miss future paychecks.
Technical
Yesterday, AUD/USD bounced-off the key level of 0.71.
AUD/USD is currently moving towards the support level of 0.70548.
Price Levels
Current Price: 0.70749
Next Resistance: 0.71339
Next Support: 0.70548
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