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Forex: AUD/USD consolidates around 1.0440

FXstreet.com (Córdoba) - The AUD/USD finished lower on Wednesday at 1.0440, retreating after reaching on Tuesday two-month highs barely below 1.0500. Greenback strengthened across the board pushing the pair to the downside but it managed to hold above 1.0400 and trimmed losses during the US session.

In the last hours it has remain steady trading around 1.0445 at the same level it opened on Monday, moving in a small range with support at 1.0435 and resistance at 1.0450.

According to Valeria Bednarik, chief analyst at Fxstreet.com the short term outlook for the AUD/USD turned bearish, as the price stalled below a bearish 20-SMA and as technical indicators point to the downside. “Below 1.0410, the pair may quickly test 1.0360 static support, while once below this last, the pair has room to extend down to 1.0300/30 before strong buying interest reappears.

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