AUD/USD: Moving Below The Strong Support at 0.9582
AUD/USD is moving below its strong support at 0.9582. Another strong support lies at 0.9388. Hourly resistances are at 0.9597 (28/05/2013 low) and 0.9696 (28/05/2013 high).
In the medium-term, the break to the downside out of the horizontal range between 1.0177 (25/07/2012 low) and 1.0613 (09/08/2012 high) favours a test of the key support area given by 0.9582 (01/06/2012 low) and 0.9388 (04/10/2011 low).
We have adjusted our stop-loss to take into account the recent price developments.