Forex: AUD/USD hit by AU data; eyes 1.04

FXstreet.com (San Francisco) - The Australian dollar has come under selling pressure in thin trading after AU business confidence registered readings slightly lower than last month. AUDUSD has dipped to as low as 1.0408 and currently trades at 1.0413. The 100-hour EMA (1.0410) is now supporting price, but should the downward momentum accelerate, the 1.0400 handle (200-hr EMA) would be the first bearish target, then 1.0380. Regional shares are mixed as trading in Asia gets underway, with Japan's Nikkei up 0.2% and Australia's ASX down 0.8% at the time of writing.