AUD/USD Turns Lower Near 0.7100 as Dollar Recovers
AUD/USD faded an early Asian-session uptick on Tuesday and is back near 0.7100 as the US dollar recovers from a two-month low.
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The Australian dollar is struggling to hold gains against a recovering US dollar, with AUD/USD slipping back toward the 0.7100 level.
During Tuesday’s Asian session the pair initially edged higher, but the move faded and spot turned lower. Traders are watching for a break below 0.7100, which would open the door to a continuation of the previous day’s pullback from the highest levels since June. The US dollar’s bounce from a two-month low is adding pressure on the aussie.
Source: FXStreet Forex News