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Forex: AUD/USD bounces at 1.0280 again; Back above 1.3000

FXstreet.com (San Francisco) - After falling around 30 pips from 1.0310 to tests intra-day low at 1.0280, the AUD/USD has found support art this level again with the pair bouncing back to trade above the 1.0300.

Currently the AUD/USD is trading at 1.0300, almost flat on the day but strongly bearish according to the FXstreet.com trend index. Indicators are bearish with MACD, CCI and Momentum pointing lower and the Stochastic going neutral in the 1-hour chart.

In terms of technical levels, immediate resistances for the cross are seen at 1.0336 (intraday high), followed by 1.0370 (100-hour SMA) and 1.0400 (psychological level), while on the flip side supports could be found at 1.0280 (intraday low) and 1.0225 (Mar 12 low) ahead of 1.0200 (psychological level).

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