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FXstreet.com (Barcelona) - Yesterday's recovery and subsequent rapid surge has remained largely intact Wednesday as risk aversion starts to mount in the aftermath of the Bernanke testimony. On the heels of the conclusion of the morning segment of the European session, the pair is still trading above the 1.0300 mark, ahead of several economic indicators in the United States.

Robert Rennie, a research analyst at Westpac reports, "quarterly production from Australia's three largest iron ore
miners announced fresh production records in
the last few days. In terms of specifics, Australia's big three produced 103mt for
the quarter and
400mt for the year to June. This has coincided with the strong performance of the aussie against notable rivals such as the USD.

The exchange rate is on the decent, dropping -0.08% since the opening, while presently trading in the region of 1.0307. Research Analyst Mark De La Paz of FX Instructor calculates means the supports at 1.0285, followed by 1.0252, and then 1.0203. Conversely, the resistance levels are identified at 1.0334, 1.0367 and finally 1.0416.

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