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Forex: AUD/USD remains capped by 1.0200

FXstreet.com (Córdoba) - The AUD/USD has spent most of the New York session hovering inside a slim range around its opening level, after the latest recovery attempt was capped by the 1.0210 area.

The Aussie failed to benefit from the advance in commodities, as it remains pressured after the RBA decided to cut its reference rate, but the 1.0150 area acted as strong support, leaving AUD/USD directionless in a phase of consolidation.

At time of writing, AUD/USD is trading around 1.0175/80, where it is virtually unchanged on the day. On the upside, next resistance levels could be found at 1.0210 (daily highs) and 1.0230 (100-hour SMA), while on the downside, supports are seen at the 1.0150/55 zone (lows May 7 & 8) and 1.0215 (2013 low Mar 4).

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