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AUD/USD hits fresh daily lows

FXStreet (Córdoba) - AUD/USD turned lower and retraced most intraday gains at the beginning of the New York session as the greenback gathers pace across the board ahead of the Fed minutes.

AUD/USD is back testing the lower side of today’s range after the latest recovery attempt was rejected by the 0.8815 zone, although still finding support at the 200-hour SMA. At time of writing, AUD/USD is trading at 0.8755, recording a 0.75% loss on the day, having hit a low of 0.8748 so far.

AUD/USD technical outlook

“In the 4 hours chart indicators retrace from oversold levels, while 20 SMA stands flat below current price, giving no clear directional signs”, said Valeria Bednarik, chief analyst at FXStreet. “A break below 0.8740 support is required to see the pair returning to the downside, while above 0.8850 the bias is higher towards 0.8890”.

Bednarik locates next supports at 0.8740 and 0.8700, while resistances are seen at 0.8810, 0.8850 and 0.8890.

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