Forex: AUD/USD recovery capped by 1.0500

FXstreet.com (Córdoba) - Despite the positive mood seen in stocks, the Aussie came under pressure on Wednesday and fell to a 1-week low versus the greenback at the beginning of the New York session before finding support and staging a mild bounce.

AUD/USD bottomed out at 1.0477 but recovered some ground during the American afternoon, as most crosses corrected their course on profit-taking. However, the pair remains capped by the 1.0500 mark and it is currently quoting at the 1.0490/95 area, still down 0.4% on the day.

As for technical levels, immediate resistances are seen at 1.0500, 1.0515 (hourly high) and 1.0535 (intraday high), while supports could be found at 1.0480, 1.0460 (daily low Dec 7) and 1.0435 (daily low Dec 6).

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