AUD/USD (a 4-hour chart of which is shown), has retraced back down to a key uptrend support line extending from the 83.15 double-bottom low established in early July. This bearish retracement occurs within the context of this month's steep uptrend that hit a 2+ month high of 0.9067 just yesterday before beginning the current correction. For more AUD/USD technical analysis, please click here.

James Chen, CTA, CMT