Forex: AUD/USD recovery capped by 1.0320

Underpinned by the improvement in market sentiment, AUD/USD managed to recover from a 4-month low of 1.0225 scored at the beginning of the European session, back above 1.0300 during the American afternoon.

AUD/USD printed a daily high of 1.0320 as stocks turned positive in Wall Street, but lost momentum and it is currently trading around 1.0300/05, still up 0.5% on the day.

As for technical levels, next resistances are seen at 1.0320 (intraday high), 1.0345 (high Feb 8) and 1.0353 (10-day SMA). On the downside, supports could be found at 1.0245 (low Feb 11), 1.0225 (intraday low) and 1.0200 (psychological level).