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Forex: AUD/USD tests 1.0405 after retracing from highs

FXstreet.com (San Francisco) - After retracing from highs at 1.0425, the AUD/USD ha found support at 1.0405 where the pair has bounced to trade back at 1.0415. Currently the AUD/USD is moving at 1.0414, 0.06% below opening price.

The AUD/USD was trading in recovery mode from 1.0385, lowest since March 21st, reached in the Asian session after the Chinese manufacturing PMI. Currently the pair is Slightly Bullish according to the FXstreet.com forex studies. Indicators such as CCI and Momentum are bullish while the MACD is neutral and the Stochastic points bearish.

Below the 1.0400, next supports are at 1.0385 and 1.0360 (March 21st low). Resistences are at 1.0425, 1.0455 and 1.0475.

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