AUDUSD's bounce from 0.9208 extended to as high as 0.9329, the subsequent fall indicate that the bounce had completed, another fall to test 0.9202 support would likely be seen, a breakdown below this level will signal resumption of the downtrend from 0.9461 (Apr 10 high), then the following downward movement could bring price to 0.8800 area.

Editor’s Note: Equity investors/traders can use the Currency Shares Australian Dollar Trust (FXA, quote) ETF to take positions in the Aussie dollar without a FOREX account.  The ETF looks to track the price of the Aussie dollar (AUDUSD), minus ETF fee.

The fund seeks to reflect the price of the Aussie dollar (AUDUSD) with the shares representing a cost-effective investment relative to investing in the FOREX market.

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