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Forex: AUD/USD trading at resistance near 1.0480

FXstreet.com (Barcelona) - The AUD/USD has bounced off the 1.0475 level during American trading Wednesday to creep higher and extend its gains. The cross now looks to consolidate its gains and is trading at 1.0479/81 at the time of writing, jumping +0.30% above its opening.

Briefing the technicals, the AUD/USD is slated to face calculated resistance at 1.0495, ahead of 1.0481, and finally 1.0502, and 1.0524. Conversely, any downside attempt or subsequent movement lower will encounter means of support at 1.0438, then 1.0416, and finally 1.0395, notes the Mataf.net technical analyst team.

Later tonight at 22:30 GMT, investors will learn of the Australian AIG Performance of Services Index (March). Later during the overnight session, Australia is also slated to reveal Building Permits and Retail Sales data.

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