AUD/USD Current price: 0.8206

Australian dollar held steady against the greenback, with the pair hovering a few pips above the 0.8200 level for most of the day. Losing a few pips ahead of the Asian opening, Chinese GDP readings will probably be the main market driver in the upcoming hours, and will affect for the most, commodity currencies such as the AUD. Grow is expected to have shrunk in the Q4, down to 1.7% quarterly basis and to 7.2% YoY. If the final readings are even lower, the AUD/USD will probably dip short term, although it will take some follow through below 0.8170 to confirm a steadier decline. Short term, the 1 hour chart shows that the price stands a few pips below a flat 20 SMA while indicators stand horizontal around neutral territory. In the 4 hours chart the price finally broke below its 20 SMA that maintains a bullish slope, while momentum accelerates south below 100, increasing the risk of a short term decline.

Support levels: 0.8170 0.8130 0.8090

Resistance levels: 0.8240 0.8290 0.8330
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