FXstreet.com (Barcelona) - Australian Dollar has been going through recovery after bouncing yesterday at 0.8155, reaching resistance area at 0.8275 during early European session, to pull back to levels around 0.8340 at the time of writing.

Australian Dollar has found resistance at 0.8275 Aug 14 low, and coincident with the 38.20% Fibonacci retracement of Friday - Monday decline. In case of breaking above here, next resistance level could be 0.8315 (Aug 17 high), and 0.83700 (Aug 12 high).

On the downside, initial support could be 0.8215, and below here, 0.8195 intra-day low. in case of breaking below here, 2-week low at 0.8155.

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