Australian Dollar Breaks Below Support Line

Commentary: The AUDUSD has broken below the short term support line drawn off of the 8/29 and 8/31 lows. The rally from last night?s low (.8174) appears corrective so favor the bear side from current levels.

We expect the entire rally from .8051 to be fully retraced.

Strategy: Bearish now, against .8285, target below .8051