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Forex: AUD/USD retraces from highs and test the 1.0475

FXstreet.com (San Francisco) - After rising around 55 pips from the 1.0445 Asian session's low, the AUD/USD tested March 26 highs at 1.0495 in the early American morning. But the pair found many sell orders at this level and the pair is trading back to test the 1.0475 level.

Currently the AUD/USD is trading at 100477, still 0.28% positive on the day. The pair is strongly bullish according to the FXstreet.com forex studies. Indicators such as MACD, CCI and Momentum are bullish while the Stochastic is neutral in the 1-hour chart.

Below the 1.0475 (March 25 and April 2 highs), nexts supports are at 1.0385 (April 1 low) and 1.0370. On the upside, next resistances are at 1.0495, ahead 1.0580 (Jan 16 high) and 1.0600 (Jan 10 and 11 high).

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