0.9200 was a sizeable line in the sand but there’s no stopping the selling at the moment. For most of 2014 it’s been ranging nicely between the sticks from here to around 0.9400.
AUD/USD Daily chart 09 09 2014
As we’ve seen with the pound, euro, yen, and others recently, when ranges break they can go hard and fast and you often don’t get a look back. If we are going to get a break lower then look to the 200 dma at 0.9180 and support at 0.9165/70. If the lower number is breached then we are on for a run down to 0.9000, at the very least.
Many people often miss a break of range as they have become complacent with it over time. If you want to be in the trade from the off from the off then look to trade the break of 0.9160 with stops just above 0.9200. Full confirmation of a break will come if the lower levels are broken and a retest of 0.9160/80/9200 holds.