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FXstreet.com (San Francisco) - The AUD/USD pair ended the day practically unchanged around 1.0315, dipping to as low as 1.0246 where it hit a fresh 2-week low on weaker than expected inflation data which slammed the aussie in early Asian trade, but encountered heavy bids at the 50.0% Fibonacci extension taken from the November 23rd and February 29th troughs at 1.0258.

The pair managed to recover earlier losses during the European and US sessions as market sentiment found support with equities and Treasury yields rallying on the back of yesterday's broad-based global risk sell-off. The price action resulted in the formation of a bullish pin bar pattern visible on the daily chart. Australia and New Zealand's ANZAC Day should keep the market relatively quiet in Asia but, should AUD/USD regain the upside in the global day ahead, resistance is noted at 1.0350 (28 March low), 1.0370 (23 March low) and 1.0420 (15 March low). To the downside, support lies at 1.0425 (11 April low), 1.0180 and 1.0140.

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