AUD/USD challenges key near-term levels on the day
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The dollar is seen losing a bit of ground on the day now as equities are trimming losses in European morning trade, helping to see risk currencies gain some decent ground on the session with AUD/USD bouncing back to 0.7240 levels now.
Of note, AUD/USD is nudging just above its 100-hour moving average (red line) @ 0.7236 though the 200-hour moving average (blue line) @ 0.7249 is still limiting any major turn in sentiment just yet – at least for now.
That will be the key level to watch in the hours ahead in case a further turn in equities sentiment helps to bolster the upside turn in the past hour for the aussie.