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AUD/USD rejected from 0.8800, falls to daily lows

FXStreet (Córdoba) - AUD/USD has been on the retreat during the last sessions after the latest recovery attempt was capped by 0.8825.

AUD/USD has retraced part of yesterday’s advance, falling back below the 0.88 mark to a low of 0.8759 as investors remain cautious ahead of the key event of the week, the US nonfarm payrolls report. Consensus points to a 215K job gain in September following dismal 142K the previous month.

At time of writing, AUD/USD is trading at 0.8765, recording a 0.42% loss on the day. Even though the Aussie managed to recover from a 9-month low of 0.8663 scored Wednesday, the broader outlook is negative with AUD/USD having lost nearly 7% since early September.

AUD/USD levels to watch

In terms of technical levels, AUD/USD could find immediate supports at 0.8723 (Oct 2 low), 0.8700 (psychological level) and 0.8663/59 (Oct 1 low/Jan 24 low). On the flip side, resistances are seen at 0.8826 (Oct 2 high), 0.8837 (23.6% Fibo of 0.9401-0.8663) and 0.8885 (Sept 25 high).

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