The AUD/USD has managed to trade at a low of 0.8998 so far, the lowest level seen since Aug 2010 and looks to be on track for a test of the next decent support on the weekly timeframe noted at 0.8770. Yesterday i mentioned that the $0.9344 level remains key resistance with the AUD/USD having been sold heavily since failing ahead of on yesterdays bounce, and a close back above this level is needed to relieve the immediate bearish focus. Initial resistance is noted at the 0.9080 level that previously supported with the AUD/USD having remained capped on the hourlies at this level since the break lower.
