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AUD/USD rises after 3-day slide

FXStreet (Córdoba) - The aussie rose against the US dollar for the first time in four days and recovered modestly from 8-month lows. AUD/USD bottomed during the Asian session at 0.8693, above Monday's lows and then bounced to 0.8766 (September 30 high).

On European hours pulled back but held above 0.8700. During the American session approached daily highs but failed to break above 0.8755 and finished hovering around 0.8750/52, with a 0.40% gain.

AUD/USD with resistance between 0.8755 and 0.8766

During New York session the area around 0.8755 capped the upside. Between the mentioned level and 0.8766 there is an important short term resistance area. “The 4 hours chart shows price struggling with a bearish 20 SMA at current levels and momentum turning south below 100, with the daily high of 0.8766 as immediate resistance to overcome to see the pair extending its recovery, at least intraday”, says Valeria Bednarik, Chief Analyst at FXStreet.

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