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AUD/USD dips below 0.8700

FXStreet (Córdoba) - AUD/USD failed to sustain yesterday’s gains and pulled back below the 0.8700 level Thursday, weighed by sharp losses in equities.

AUD/USD has been moving back and forth this week, although in the aftermath the pair trades little changed, having recovered from a low of 0.8650. AUD/USD seems to have found an interim bottom at the 0.8640/50 zone,where it posted a 4-year low, after dropping more than 700 pips throughout September.

Having dropped more than a full cent so far, AUD/USD is currently trading at the 0.8695 zone, recording a 1.5% loss on the day.

AUD/USD technical levels

On the downside, immediate supports are seen at 0.8650/42 (Oct 13 & 3 lows) and 0.8632 (Jul 8 2010). On the upside, resistances could be found at 0.8780 (20-day SMA) and 0.8800 (psychological level).

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