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Forex: AUD/USD bounces off 0.9830

FXstreet.com (Barcelona) - The Aussie dollar found buying interest in session lows around 0.9830 so far, lifting the cross to the current area of 0.9840/45 although trading well into the red figures, despite the better-than-expected annualized GDP in Japan, growing 3.5% vs. estimates at 2.8%.

“Consolidation of recent down moves was the order of the day in overseas markets. This implies there could be some profit taking shortly, after the big down move”, suggested Robert Henderson, Strategist at NAB.

AUD/USD is now retreating 0.58% at 0.9841 facing the next support at 0.9827 (76.4% of 0.9581-1.0625) ahead of 0.9820 (low Jun.8 2012) and finally 0.9738 (low Jun.6).
On the upside, a surpass of 0.9929 (high May 15) would expose 1.0044 (high May 14).

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