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AUD/USD trims intraday losses

FXStreet (Córdoba) - The AUD/USD has managed to recover from lows and trimmed most part of its China PMI-induced losses during the European session.

The AUD/USD had bottomed out at a 2 ½-month low of 0.9235 after data showed China flash PMI came in lower than expected (50.3 vs 51.5). The pair was already under pressure as the greenback strengthened on the back of hawkish Fed minutes.

However, the AUD/USD has already cut almost completely intraday losses as the dollar retreats across the board and investors shrug off data disappointment. At time of writing, the Aussie is trading at 0.9275, still 0.10% below its opening price.

AUD/USD levels to watch

In terms of technical levels, immediate supports are seen at 0.9235 (Aug 21 low), 0.9210 (May 29 low) and 0.9200 (psychological level) . On the flip side, resistances could be found at 0.9292 (10-day SMA), 0.9314 (20-day SMA) and 0.9340/45 (100-day SMA/Aug 19 high).

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