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Forex: AUD/USD fails to hold above 1.0200

FXstreet.com (Córdoba) - The Australian dollar surrendered the modest gains accomplished during the European session against the greenback, weighed by a negative opening in Wall Street.

After peaking at 1.0208, AUD/USD slid back to the 1.0180 area, where it is trading at the time of writing, virtually unchanged since opening.

From a technical view, Valeria Bednarik, chief analyst at FXstreet.com notes that the bearish tone persists in 4-hour chart. "Further slides will depend on the ability of the price to take over the daily low (1.0150), with parity then at sight", the analyst commented.

Benarik locates immediate support levels at 1.0150, 1.0110 and 1.0080, while she sees resistances at 1.0220, 1.0260 and 1.0300.

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