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AUD/USD remains vulnerable below 0.7100

FXStreet (Córdoba) - AUD/USD fell sharply on Tuesday extending the pullback from Friday’s highs below 0.7100 as the Aussie faced selling pressure against a backdrop of risk aversion.

AUD/USD has dropped more than 200 pips since Friday, having scored an 11-day low of 0.7055 during the New York session while stocks traded deep into the red in Europe and US. However, the pair managed to recover some ground and it was last trading at 0.7073, still down 0.80% on the day.

AUD/USD technical levels

As for technical levels, next supports are seen at 0.7035 (Sep 11 low), 0.7000 (psychological level) and 0.6945 (Sep 10 low). On the flip side, resistances could be faced at 0.7158 (Sep 22 high), 0.7196 (Sep 21 high) and 0.7235 (50-day SMA).

EUR/GBP downside open below GBP 200 DMA

EUR/GBP is currently trading at 0.7244with a high of 0.7257 and a low of 0.7196.
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Fed speak and technical levels are the drivers - Scotia

Analysts at Scotiabank explained that the North American markets are confronted with a generally stronger USD and softer equity and commodity markets.
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