FXstreet.com (California) - AUD/USD hit levels not seen since the second day of May on Tuesday, a fresh 3-week high. Currently, the cross is trading in a tight 15-pip range between 1.0960/1.0945 as investors await the release of key CPI data in Australia later today.

Technically, ?4 hours indicators, are also in overbought territory, while 20 SMA is far below current price, around 1.0870 area, also previous daily high making of the level, an interesting buying zone on deeps. The bullish target remains at the mentioned 1.1010 high, while fresh rises may lead towards the 1.1100 price zone before the buying pressure eases at least temporarily,? comments Valeria Bednarik, Chief Analyst at FXstreet.com.

At the time of writing, AUD/USD is quoted in virtually the same place it opened the Asian trade, around 1.0950. To the downside, Valeria finds support at 1.0930, 1.0870 and 1.0820. To the upside resistance levels lie at 1.0970, 1.1010 and 1.1055.