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AUD/USD slowly retraces intraday losses

FXStreet (Córdoba) - AUD/USD managed to recover from lows after facing a selloff wave on the back of a weaker China manufacturing PMI during the Asian session.

AUD/USD dropped to a 2-week low of 0.7018 but it has slowly taking back intraday losses to currently trade at 0.7048, still 0.57% below its opening price. The Australian dollar, as other risky assets, remains vulnerable against a backdrop of risk aversion amid lingering concerns over global economy.

AUD/USD levels to watch

As for technical levels, next supports are seen at 0.7018 (Sep 23 low), 0.7000 (psychological level) and 0.6945 (Sep 10 low). On the upside, resistances could be faced at 0.7089 (Sep 23 high), 0.7125 (10-day SMA) and 0.7158 (Sep 22 high).

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