AUD/USD: Approaching a Key Support Area
AUD/USD has moved below its support at 1.0227 (12/02/2013 low). Monitor the test of the key support area between 1.0177 and 1.0149. An hourly resistance is at 1.0244 (intraday high).
AUD/USD is moving within the medium-term horizontal range defined by the support at 1.0149 (08/10/2012 low) and the resistance at 1.0613 (09/08/2012 high). A break out of this range is required to fuel a longer-term directional bias.