AUD/USD - Bearish Breakout of The Support at 0.9206
AUD/USD has broken the key support area defined by 0.9206 and the 200 day moving average (see also the 38.2% retracement). The short-term technical structure is negative as long as prices remain below the hourly resistance at 0.9251 (intraday low). A first hourly resistance can be found at 0.9218 (intraday high).
In the longer term, the break to the downside out of the 5 month horizontal range between 0.9206 (see also the 200 day moving average) and 0.9461 (10/04/2014 high)/0.9505 calls for a further decline towards the support at 0.8891 (03/03/2014 low).