Forex: AUD/USD slips toward 1.0450
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AUD/USD
FXstreet.com (San Francisco) - AUDUSD retreated sharply from two-week highs on Thursday, shedding around 0.4% of its weekly advance after minutes from the Federal Reserve's latest meeting inspired safe haven bids for the U.S. dollar across the board.
The pair closed the North American session down 1.0465 after reaching levels in the 1.0525 zone, and spot looks to maintain the bearish bias in early Asia, for at least in the short-term. "The hourly chart shows an increasing bearish momentum, although the bigger picture shows the upward tone remains pretty much intact," observes Valeria Bednarik, Chief Analyst at FXstreet.com.
The analysts' immediate outlook on AUDUSD: "For the short term, price struggles around 1.0470 static level, and seems ready for a test of 1.0400 where first line of strong buying is aligned."
At the time of writing, the market is testing bids through 1.0455, with support noted at 1.0440, and beyond the 1.04 handle, at 1.0370. Upward thrusts may find resistance at 1.0490, 1.0525 and 1.0550.
The pair closed the North American session down 1.0465 after reaching levels in the 1.0525 zone, and spot looks to maintain the bearish bias in early Asia, for at least in the short-term. "The hourly chart shows an increasing bearish momentum, although the bigger picture shows the upward tone remains pretty much intact," observes Valeria Bednarik, Chief Analyst at FXstreet.com.
The analysts' immediate outlook on AUDUSD: "For the short term, price struggles around 1.0470 static level, and seems ready for a test of 1.0400 where first line of strong buying is aligned."
At the time of writing, the market is testing bids through 1.0455, with support noted at 1.0440, and beyond the 1.04 handle, at 1.0370. Upward thrusts may find resistance at 1.0490, 1.0525 and 1.0550.
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