FXstreet.com (Barcelona) - Australian Dollar recovery from 0.9235 low on Tuesday was rejected during Asian session at 0.9320, and the pair pulled back to 0.9265 low to bounce up strongly and return to test 0.9320 session top at European session opening times.

The hourly indicators, however are pointing down as long as 09405 resistance remains in place, says Rajoo C, technical analyst at Precise Trader: The Hourly Oscillators are Bearish and the price is Below the MA, so the Bulls have to be sidelined. Hourly Trend is Sideways Down while 9405 holds and Daily Trend is Sideways Up while 9130 holds, so expect the price to make Lower Lows.

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