Forex: AUD/USD trades flat on the day (Córdoba) - The Aussie managed to erase intraday losses versus the greenback and rose to touch a fresh high for the day during the New York session, underpinned by US stocks that turned positive.

AUD/USD had bottomed out at 1.0395 at the beginning of the European session, weighed by the risk aversion mood, but as sentiment improved the pair regained the 1.0400 mark and recently printed high of 1.0437. At time of writing, AUD/USD is trading at the 1.0425 area, virtually unchanged since opening.

From a technical view, Valeria Bednarik, chief analyst at notes that the pair holds its overall bullish trend and "downward movements should consider corrective towards 1.0360 level, where a daily ascendant trend line will challenge bulls determination".

Bednarik locates immediate resistances at 1.0445, 1.0480 and 1.0510, while she sees supports at 1.0390, 1.0360 and 1.0330.