AUD/USD losses upside momentum and retreats toward 0.9350

FXStreet (Córdoba) - The AUD/USD recovered further during the recent American session but it was unable to go beyond 0.9400 and peaked at 0.9387. In the last hours of trading in Wall Street the Aussie lost momentum and pulled back.

Early in Asia the AUD/USD continues to retreated and currently trades at 0.9367, down 0.02% for the day so far. Recently printed a fresh low at 0.9363.

Technical outlook for the AUD/USD

“The hourly chart shows price above a bullish 20 SMA while indicators hold in positive territory, although lacking upward strength”, says Valeria Bednarik, Chief Analyst at FXStreet.

According to Bednarik, the 4 hours chart is still bearish “as price is being capped by a flat 20 SMA and indicators hold below their midlines”.