AUD/USD: Moving Below the Support at 1.0323
AUD/USD is moving below its short-term support at 1.0323 (11/09/2012 low). A test of the strong support at 1.0177 is likely. Hourly resistance is at 1.0404.
The proximity of the down trendline, coupled with medium-term oscillators near overbought levels, favours a phase of weakness. However, should a break to the upside out of the symmetrical triangle occur, it would force us to review our strategy.