AUD/USD: Making New Lows
AUD/USD continues to decline, breaking the support at 0.9110. Hourly resistances can be found at 0.9190 (03/07/2013 high, see also the declining channel) and 0.9253 (01/07/2013 high).
In the medium-term, the break of the key support at 0.9388 (04/10/2011 low) opens the way for a further medium-term decline. The break to the downside out of the long-term symmetrical triangle (see the daily chart) suggests a move towards 0.8236. Key supports are at 0.8771 and 0.8067.
The current bounce has forced us to close our short strategy for profits.