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FXstreet.com (Córdoba) - The Australian dollar has given up most of intraday gains versus the greenback at the beginning of the New York session amid strong USD demand.
The Aussie had benefited from better-than-expected domestic employment data, but it lost momentum when reaching a high of 1.0253 and slipped back below the 1.0200 mark. At time of writing, AUD/USD is trading around 1.0185, still up 0.1% on the day.
"The hourly chart for AUD/USD shows price below 20 SMA and indicators turning south still above their midlines, while in the 4 hours chart technical readings turned to neutral", says Valeria Bednarik, chief analyst at FXstreet.com. "The dominant trend however is still bearish, with buying interest now aligned around 1.0150".
The analyst locates immediate support levels at 1.0150, 1.0110 and 1.0080, while she sees resistances at 1.0220, 1.0260 and 1.0300.