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AUD/USD reverses daily gains

FXStreet (Córdoba) - AUD/USD lost nearly 100 pips throughout the European session after failing to sustain levels above the 0.8800 psychological level.

AUD/USD climbed to a daily peak of 0.8811 during the Asian session as the USD fell sharply versus major competitors as stocks collapsed in the last 20 minutes of trading in Wall Street on the back of another false Ebola scare.

However, AUD/USD failed to hold above 0.8800 and reversed intraday gains, with AUD/USD bottoming out at 0.8717 in recent dealings. At time of writing, the pair is trading at 0.8730, 0.45% below its opening price.

AUD/USD levels to watch


As for technical levels, AUD/USD could find immediate supports at 0.8700 (psychological level), 0.8651 (Oct 13 low) and 0.8642 (Oct 3 low). On the flip side, resistances are seen at 0.8811 (intraday high), 0.8850 (Oct 8 high) and 0.8898/0.8900 (Oct 9 high/psychological level).

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