AUD/USD erases daily losses, back above 0.7600

AUD/USD managed to erase daily losses and trades nearly unchanged for the day, after having oscillated between a high of 0.7644 and a low of 0.7592.

AUD/USD fell briefly below the 0.76 level after US non-manufacturing PMI data gave USD a boost and offset a disappointing ADP reading. However, AUD/USD quickly recover the lost ground. At time of writing, the Aussie is trading at 0.7623, just a few pips above its opening price.

On the data front, US ISM non-manufacturing index rose to 57.1 in September from 51.4 the previous month and above the 53.0 of consensus. Earlier, separated data showed US private sector employment increased by 154,000 jobs in September, below the 166,000 job gain expected.

AUD/USD levels to consider 

In terms of technical levels, next resistances could be faced at 0.7644 (Oct 5 high), 0.7690 (Oct 4 high) and  0.7709 (Sep 29 high). On the other hand, supports are seen at 0.7592 (20-day SMA), 0.7534 (Sep 21 low) and 0.7500 (psychological level).