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AUD/USD erases intraday losses

FXStreet (Córdoba) - After scoring a fresh 2-week low during the European session, AUD/USD managed to erase intraday losses and climbed back to the 0.7000 area despite the risk aversion environment.

AUD/USD extended its decline to a low of 0.6938 but found buyers a few pips ahead of its 6-year low of 0.6908 struck earlier this month. However, AUD/USD recovery has been limited by the 0.7015 area, with the pair currently trading around 0.7000, virtually unchanged on the day.

AUD/USD levels to watch


As for technical levels, next resistances are seen at 0.7022 (Sep 24 high), 0.7089 (Sep 23 high), and 0.7114 (10-day SMA). On the flip side, supports could be found at 0.6938 (Sep 23 low) and 0.6908 (6-year low Sep 4).

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