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AUD/USD oscillates above 0.8700

FXStreet (Córdoba) - AUD/USD has resumed the advance and climbed back to the upper side of today’s range at the beginning of the New York session after after a complete pullback of Chinese PMI inspired gains.

AUD/USD retraced its Asian session gains but the setback was contained by 0.8700 and turned back positive, however, it lacked momentum to break free of its daily range. At time of writing, AUD/USD is trading at 0.8745, recording a 0.33% above its opening price.

AUD/USD is rising for first time in four days but remains on track to post a 6.2% loss in September, its worst decline since May of 2013.

AUD/USD technical perspective

“Overall, the pressure remains to the downside, yet a break below 0.8680 is required to confirm a new leg lower”, said Valeria Bednarik, chief analyst at FXStreet. Bednarik locates immediate supports at 0.8710, 0.8680 and 0.8635, while resistances are seen at 0.8750, 0.8800 and 0.8840.

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