Forex: AUD/USD holds above 1.0400

FXstreet.com (Córdoba) - The Australian dollar lost over 80 pips throughout the American session, weighed by the sharp fall seen in stocks as the Obama’s reelection optimism faded and market’s mood deteriorated.

Having been rejected from the 1.0480 area, the AUD/USD fell to a low of 1.0398 before finding support and settling in a tight range, capped by 1.0415 on the upside. At time of writing, AUD/USD is trading at the 1.0410 area, posting a 0.2% loss on the day.

As for technical levels, on the downside supports are seen at 1.0400, 1.0375 and 1.0330, while resistances could be faced at 1.0480, 1.0500 and 1.0520.

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