Forex: AUD/USD pressured around 1.0400
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AUD/USD
FXstreet.com (Córdoba) - After sliding to a fresh 1-month low of 1.0382, the Aussie found buyers and managed to trim losses against the dollar, although the recovery was capped by the 20-hour SMA at the 1.0405 area, confining the pair to a consolidative phase.
AUDUSD has spent the last hours between 1.0385 and 1.0400 unable to pick up momentum either side of the board. At time of writing, AUDUSD is trading around 1.0395, still down 0.2% on the day.
"Technical readings in the hourly chart support the bearish bias, with scope now to test the 1.0300/30 area later today", says Valeria Bednarik, chief analyst at FXstreet.com. "4 hours chart presents the same also shows an acceleration in the bearish momentum, which supports the shorter term view".
AUDUSD has spent the last hours between 1.0385 and 1.0400 unable to pick up momentum either side of the board. At time of writing, AUDUSD is trading around 1.0395, still down 0.2% on the day.
"Technical readings in the hourly chart support the bearish bias, with scope now to test the 1.0300/30 area later today", says Valeria Bednarik, chief analyst at FXstreet.com. "4 hours chart presents the same also shows an acceleration in the bearish momentum, which supports the shorter term view".
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