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AUD/USD: recovery falters at 0.8755

FXStreet (Córdoba) - AUD/USD managed to recover from daily lows in the vicinity of 0.8700, having climbed more than 50 pips over the last hours, although it remained below its Friday’s closing price.

AUD/USD gapped lower and fell to a 2-week low of 0.8702 during the Asian session, weighed by disappointing Chinese manufacturing data and a big fall in Australian building approvals in September. Even though the Aussie managed to stage a recovery, it was capped by the 0.8755 zone, putting AUD/USD back under pressure.

At time of writing, AUD/USD is trading at 0.8735, down 0.72% from Friday’s close, with US manufacturing PMI still to be released later on the day.

AUD/USD technical levels

As for technical levels, AUD/USD could find immediate resistances at 0.8760 (daily high), 0.8798/0.8800 (Oct 31 close/psychological level) and 0.8839 (Oct 31 high). On the flip side, supports are seen at 0.8702/00 (daily low/psychological level), 0.8685 (Oct 16 low) and 0.8651 (Oct 13 low).

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