AUD/USD is licking its wounds after a significant slide which began in Asia. Profit-taking in AUD/JPY helped spur the decline as the Nikkei had a bad day and those equity losses have bounced from market to market around the globe. Traders surmise that the leveraged community is beginning to lighten up positions across the markets and book profits after a very good year.
Sellers are seen on rebounds in AUD/USD near-term toward the 0.9200/10 area, a very important support zone lost on the way down this morning. Medium and long-term players are comfortable (they say) as long as the uptrend from March stays intact. That line is drawn at 0.9100 today.
