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AUD/USD: Lack of buying interest
• AUD/USD has failed to break the resistance at 0.9374. The subsequent break to the downside out of the rising channel negates a potential short-term double-bottom formation. An hourly support can be found at 0.9272, while a key support stands at 0.9239. An hourly resistance now lies at 0.9319 (01/09/2014 low).
• In the longer term, prices are consolidating within the range defined by the key support at 0.9206 (see also the 200 day moving average) and the key resistance at 0.9461 (10/04/2014 high)/0.9505.
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