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AUD/USD reverses early losses

FXStreet (Córdoba) - AUD/USD managed to bounce from a fresh 7-month low scored earlier amid a stronger greenback and weaker commodity prices.

AUD/USD bottomed out at 0.8747 at the beginning of the European session but reversed intraday losses as the greenback stages a mild pullback across the board. AUD/USD climbed to a session high of 0.8802 but failed to hold above the psychological level and retreated. At time of writing, the pair is trading at 0.8789, virtually unchanged on the day.

AUD/USD technical levels

In terms of technical levels, AUD/USD could find immediate resistances at 0.8812 (intraday high), 0.8830 (Sept 23 low) and 0.8885 (Sept 25 high). On the other hand, supports are seen at 0.8747 (early Europe 7-month low), 0.8730 (Feb 4 low) and 0.8700 (psychological level).

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