The spike by the AUD/USD to session highs of 0.9344 has thus far lacked follow through and in hindsight, looks like a bit of a stop take out. The pair needed to close above the 0.9320 level today to relieve a bit more of the current bearish focus that is currently targeting the 0.8770 level.
![audusdhourlyb26june](http://az705044.vo.msecnd.net/20130626/audusdhourlyb26june-650x373.jpg)