AUD/USD (a 4-hour chart of which is shown) as of Thursday (8/19/2010) has dropped to approach key support in the 0.8900 price region after having hit a high just above 0.9070 region resistance and then retreating. After having hit that resistance high, price has formed a parallel downtrend channel. For more AUD/USD forex technical analysis, please click here.

James Chen, CTA, CMT