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AUD/USD recovery capped by 0.8750

FXStreet (Córdoba) - The recovery of AUD/USD from levels sub-0.87 was capped by the 0.8750 area during the European session, sending the pair back to opening levels.

With cautious mood prevailing amid concerns about slowing global growth momentum, Aussie came under pressure as investors get rid of risky assets. AUD/USD peaked at 0.8749 and fell nearly half a cent to a session low of 0.8703 before finding support. At time of writing, AUD/USD is trading at 0.8720, still 0.1% above its opening price.

AUD/USD technical levels

As for technical levels, AUD/USD could find immediate supports at 0.8675 (intraday low), 0.8651 (Oct 13 low) and 0.8642 (2014 low Oct 3). On the other hand, resistances are seen at 0.8750/55 (intraday high/10-day SMA), 0.8785 (Oct 10 & 13 highs) and 0.8811 (Oct 14 high).

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