AUD/USD: Bounce is Fading
AUD/USD is moving in a tiny range between the hourly support at 1.0285 and the hourly resistance at 1.0340. Another support is at 1.0221 (23/04/2013 low). A key resistance is at 1.0398 (16/04/2013 high).
A test of the key support area between 1.0177 and 1.0115 (04/03/2013 low) is expected.
In the medium-term, AUD/USD is moving within the horizontal range defined by the support at 1.0177 (25/07/2012 low) and the resistance at 1.0613 (09/08/2012 high). The direction of the break of this range is expected to give the next medium-term trend.