Forex: AUD/USD recovers from 1.0475 and tests 1.0500 area

By FXstreet.com | January 07, 2013 AAA

FXstreet.com (San Francisco) - The Aussie is trading in recovery mode from 1.0475 to reach levels close to 1.0495. The pair is easing previous loses from intra-day high at 1.0505 reached in the Asian session.



Currently the AUDUSD is trading at 1.0495, 0.15% above today's opening price action. The next hurdle at 1.0510 (hourly lows/highs Jan.3) ahead of 1.0528 (76.4% of 1.0585-1.0345) and finally 1.0535 (high Dec.19).



On the downside, a violation of 1.0465 (low Jan.3) would expose 1.0445 (hourly lows/highs Jan.4) and then 1.0403 (MA10d).



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