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AUD/USD stalls ahead of 0.9700

FXstreet.com (Córdoba) - The Australian dollar managed to trim last days' losses versus the greenback on Tuesday, underpinned by the rally seen in stocks.

AUD/USD climbed over 100 pips from daily lows but the recovery stalled just ahead of the 0.9700 mark. The pair peaked at 0.9695 but lost momentum and it is currently trading at the 0.9680 area, where it records a 0.5% daily gain.

From a technical view, "steady gains above 0.9700 may see the pair extending up to 0.9770 where next line of selling interest awaits", says Valeria Bednarik, chief analyst at FXstreet.com.

Bednarik sees immediate resistances at 0.9700, 0.9740 and 0.9770, while she places support levels at 0.9660, 0.9620 and 0.9590.

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