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Forex: AUD/USD trades below 1.0300 for second time this week

FXstreet.com (San Francisco) - After declining 80 pips since the 1.0375, reached in the European session, the AUD/USD has broken down the 1.0340 previous intra-day low to test the April 15 low at 1.0290.

It is the second time the pair is trading below the 1.0300 mark since March 13th, the previous time was April 15th, this time the AUD/USD bounced back to test the 1.0400.

AUD/USD is currently trading at 1.0305, 0.80% negative on the day. The pair is slightly bearish according to the FXstreet.com trend index. Indicators such as MACD, CCI and Momentum are pointing lower while the Stochastic is bullish in the 1-hour chart.

Below the 1.0290 region, next supports are at 1.0280 and 1.0265. Resistances are at 1.0340, 1.0380 and the 1.0400 region.

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