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AUD/USD remains capped by 0.8600

FXStreet (Córdoba) - AUD/USD managed to recover ground after hitting fresh multi-year lows during the Asian session, but the bounce has remained capped by the 0.8605 zone so far.

AUD/USD bottomed out at 0.8540, posting its lowest level since July 2010, and staged a mild recovery to a high of 0.8604 during the European session, although the pair lacked momentum as investors refrain from taking big positions ahead of the US nonfarm payrolls report. NFP forecast calls for a 231K gain in October after 248K the previous month, while the unemployment rate is expected to remain at 6.9%.

AUD/USD technical levels

At time of writing, AUD/USD is trading at 0.8595, 0.45% above its opening price, with immediate resistances seen at 0.8625 (Nov 6 high) and 0.8700 (psychological level), while supports are seen at 0.8540 (2014 low Nov 7) and 0.8500 (psychological level).

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