FXstreet.com (Córdoba) - The Australian dollar made a marginal new low versus the greenback at the beginning of the New York session, but was contained once again by the 1.0460 area from where it bounced, erasing completely intraday losses.
AUD/USD is currently trading at the 1.0485 zone, where it is virtually unchanged since opening, having spent most of the day trading in a choppy fashion between 1.0460 and 1.0500.
From a technical view, Richard C. Lee, analyst at FXstreet.com notes that in a reverse of the medium term bearish trend, AUD/USD has established support just above 1.0463. "The barrier should lead to some upside potential in the currency pair in the short term, with a close above the 1.0489 figure lending to an extension higher towards 1.0521", he comments. "Downside potential remains in a break of the 1.0450 barrier".
AUD/USD is currently trading at the 1.0485 zone, where it is virtually unchanged since opening, having spent most of the day trading in a choppy fashion between 1.0460 and 1.0500.
From a technical view, Richard C. Lee, analyst at FXstreet.com notes that in a reverse of the medium term bearish trend, AUD/USD has established support just above 1.0463. "The barrier should lead to some upside potential in the currency pair in the short term, with a close above the 1.0489 figure lending to an extension higher towards 1.0521", he comments. "Downside potential remains in a break of the 1.0450 barrier".
