AUD/USD - Making New Lows
AUD/USD has broken the key support at 0.9319, validating a bearish reversal pattern with a downside risk at 0.9206. Today's new lows confirm this downside potential. An hourly resistance lies at 0.9355/0.9374.
In the longer term, prices are consolidating within the range defined by the key support at 0.9206 and the key resistance at 0.9461 (10/04/2014 high)/0.9505. The break of the support at 0.9319 calls for a test of the low of the range.