FXstreet.com (Barcelona) - Australian Dollar's retreat from 0.8385 high on Wednesday has found support at intra-week low 0.8235, and the Aussie has bounced up to levels above 0.8300 on early European session.

Initial resistance level could be at 0.8335, and above here, 1.8385 (Aug 27 high) and then 0.8430 (Aug 24 and 25 high). Support levels lie at 0.8240/50, and below here, 0.8215 and 0.8175.

On a longer term perspective, Jamie Saettele, technical analyst at DailyFX points out to 0.8150 level as key support: As the AUDUSD nears its 2009 high, the bearish short term pattern has been called into question yet remained valid. A drop below .8151 would negate any bullish potential and open up a move to .7700.

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