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Forex: AUD/USD tests the 1.0400 and retraces to 1.0380

After rising from 1.0340 to test the 1.0400 resistance in the American session, the AUD/USD has set back to the 1.0380 area where the pair remains trading in consolidation mode.

Currently the pair is trading at 1.0385, 0.85% above opening price. The pair is inside a slightly bullish trend according to the FXstreet.com Forex Studies. MACD, CCI and Momentum are bullish while the Stochastic is pointing bearish in the 1-hour chart.

The AUD/USD would face resistances at 1.0400, 1.0450 and 1.0475. On the downside, Next support are at 1.0380, MA 50 hours, 1.0360, MA 200 hours, and 1.0300.

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