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Forex: AUD/USD bounces at 1.0415, back to 1.0440

FXstreet.com (San Francisco) - The Aussie is trading lower today against the greenback and after falling around 50 pips from the 1.0475 in the European session, the pair has found support at 1.0415. At this point, the AUD/USD has bounced towards the 1.0440 level.

Currently the AUD/USD is trading at 1.0435, 0.45% below opening price action. The pair is slightly bearish according to the FXstreet.com Forex Studies. Indicators such as MACD, CCI and Momentum are bearish while the Stochastic is bullish in the 1-hour time frame.

Next support levels align at 1.0415 ahead of 1.0405 (MA10d) and finally 1.0363 (low Mar.21). On the flip side, a breakout of 1.0555 (high Jan.24) would open the door to 1.0560 (hourly high/low Jan.23) and then 1.0578 (high Jan.22).

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