After failing at the 0.9167 level yesterday we’re back down to 0.9100 and whether it holds could be an important moment for the pair. A move below will likely reinforce the bears belief that the downtrend is still in place and they may be willing to invest further in making it happen.
AUD/USD h4 chart 11 12 2013
Demand is still seen lower from domestic names and they are said to be sitting just under the big figure down at 0.9070/80. If they get taken out then we could be back to square one and looking at taking on the 0.90 level. The July support line (yellow) may also give us some support at 0.9064.
