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Forex: AUD/USD jumps above 1.0400

FXstreet.com (San Francisco) - Following a consolidator period between 1.0360 and 1.0385, the AUD/USD has jumped around 50 pips to break the top of the range and rise above the 1.0400 resistance to trade at the highest level since February 5 at 100410. Currently the pair is trading at 1.0405.

With 0.15% daily gains from opening price, the AUD/USD is inside a slightly bullish trend according to the Fxstreet.com Forex Studies. CCI and Momentum indicators are bullish while the MACD and Stochastic are neutral in the 1-hour chart.

“The recent strength is approaching resistance 1.0414, a closing break above would be positive opening 1.0458. Support is at 1.0267 ahead of 1.0202”, commented Strategists G.Yu and G.Berry at UBS.

Above the 1.0400 level, next resistances come at 1.0440 and 1.0460. Supports are at 1.0385, 1.0360 and1.0340.

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