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Forex: AUD/USD showing weakness below 1.0450

FXstreet.com (Barcelona) - AUD/USD is currently showing some weakness at 1.0428 last, off fresh session lows at 1.0420, retracing from NY session highs at 1.0452, ahead of key risk event later on in the form of US NFP at 12:00 GMT. Aussie is the second weakest currency among majors for last 2 trading days, way above Yen, the weakest one by far, with AUD/JPY having printed yet another fresh 4.5-year highs last at 100.45.

According to Valeria Bednarik, Chief Analyst at Fxstreet.com: “The hourly chart shows momentum above 100 and heading higher, although RSI remains around its midline and 20 SMA heads north below current price,” the analyst says, adding: “In the 4 hours chart 20 SMA capped the upside and indicators hold in negative territory, which suggests further  recoveries are still uncertain,” she suggests.

Valeria finds support levels at: 1.0380, 1.0350 and 1.0320, while resistance levels at: 1.0440, 1.0470 and 1.0510.

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