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22 Apr 2013
Forex: AUD/USD finds support at 1.0250
FXstreet.com (Córdoba) - The Australian dollar trades effectively unchanged on the day versus the greenback but not without volatility. AUD/USD peaked at 1.0308 during the Asian session but failed to sustain gains and slid toward a new 5-week low of 1.0250 despite broad gains in stocks.
However, AUD/USD managed to find buyers and bounced from lows, returning to the 1.0270/75 region, just where it started the day.
In terms of technical levels, immediate supports for the cross are seen at 1.0250 (daily low), 1.0202/00 (Mar 11 low/psychological level) and 1.0185 (Mar 5 low). On the other hand, resistances could be found at the 1.0300/10 area (psychological level/daily high) and 1.0357 (Apr 19 high).
However, AUD/USD managed to find buyers and bounced from lows, returning to the 1.0270/75 region, just where it started the day.
In terms of technical levels, immediate supports for the cross are seen at 1.0250 (daily low), 1.0202/00 (Mar 11 low/psychological level) and 1.0185 (Mar 5 low). On the other hand, resistances could be found at the 1.0300/10 area (psychological level/daily high) and 1.0357 (Apr 19 high).