Forex: AUD/USD holding around 1.0240

FXstreet.com (Barcelona) - AUDUSD is currently printing fresh session lows at 1.0240 less than 1 hour to go for Tokyo open. The pair opened the week yesterday with a gap lower still unfilled, losing in the way some -0.77% so far. Australia's current account will be released at 01:30 GMT ahead of the most important risk event for today in Asia-Pacific in the form of RBA rate statement at 04:30 GMT, expected to bring no changes in the rate, as 24 out of the 24 economist surveyed by Bloomberg have said so.

"The AUDUSD hourly chart shows a strong bearish tone, with 20 SMA above current price turning flat but still capping the upside, and indicators standing in negative territory," says Valeria Bednarik, Chief Analyst at Fxstreet.com. The analyst expands: "In the 4 hours chart the bearish tone is still strong, with indicators heading lower and RSI nearing oversold readings, with no signs of turning higher anytime soon. The pair approaches a key support around 1.0225 the 38.2% retracement of its latest daily bullish run. A break below will add more pressure to the pair, looking then for the 1.0100 area," Valeria concludes.

Valeria sees support levels at: 1.0225 1.0190, and 1.0140, while resistance levels at: 1.0270 1.0300, and 1.0340.