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Forex: AUD/USD tests 1.0450

FXstreet.com (San Francisco) - The Aussie is trading higher today and after a period of consolidation above the 1.0400, the AUD/USD has advanced around 30 pips in the last couple of hours to test the 1.0450. Currently the pair is trading at 1.0440.

With 0.05% daily gains, the AUD/USD is trading inside a slightly bullish trend according to the FXstreet.com Forex Studies. CCI and Momentum are bullish while the Stochastic and MACD are neutral in the 1-hour chart.

Above the 1.0450, next resistance is at 1.0460 (high Mar.21) ahead of 1.0475 (high Jan.30) and finally 1.0485 (76.4% of 1.0599-1.0116). On the flip side, a drop beyond 1.0415 (high Mar.15) would bring 1.0414 (61.8% of 1.0599-1.0116) en route to 1.0372 (MA200d).

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