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Trader, analyst and instructor with a 6-year experience

AUD/USD remains supported

Australian dollar has opened the week with a bearish gap at $0.9425, but later on recovered into the $0.9480 area. Aussie found support on stronger than expected China CPI figures. However, the pair still lacks momentum to break above the last week high of $0.9485.

Australia will release monetary policy minutes tonight at 00:30 GMT. Near-term resistance for the pair lies at $0.9485, $0.9500/10 and $0.9530. Support is seen at $0.9455, $0.9425 and $0.9390.

Chart. H4 AUD/USD

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