Forex: AUD/USD setback to 1.0520 after bouncing to 1.0545

FXstreet.com (San Francisco) - The Australian Dollar tried to take profit of the MA 200 hours level at 1.0515, against the US Dollar, and attempted a recovery that was rejected at the 1.0545. Currently the AUDUSD is trading back at 1.0520.

"Both 1 and 4 hours charts show indicators heading lower below their midlines, with an increasing bearish momentum, supporting the downward move," points Bednarik. "Price needs at least to recover 1.0540 to erase the bearish tone and be able to retest recent highs around 1.0590, not likely at the time being."

Next support levels are at 1.0510, 1.0460 and 1.0430. Resistance numbers come at 1.0525, 1.0540 and 1.0590.