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Forex: AUD/USD rejected from 1.04 resistance

FXstreet.com (Barcelona) - AUD/USD is last at 1.0362, off fresh session lows at 1.0357. The pair has not been able to break above the 1.04 after three times being rejected from 1.0398 highs since mid NY trade.

The 1.04 handle happens to being 38.2% Fibo retrace of latest down leg from past Thursday's 3-month highs at 1.0580 to Monday's 1-month lows at 1.0290, as well as 200 day SMA. Following NZ CPI coming out in line with expectations the Aussie made its final attempt towards the 1.04 resistance but failed again and started to retrace to recent levels.

With local share markets mixed, Nikkei index higher by +1% while Shanghai index down -0.6%, AUD/USD is losing -1.42% for the week so far. Immediate support to the downside lies at yesterday's London session lows 1.0334, followed by Monday's 1-month lows at 1.0290, while resistance to the upside shows at yesterday's highs/Fibo level 1.04, followed by 05 April highs and 50% Fibo retrace of mentioned down leg at 1.0535.

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