AUDUSD has been locked in consolidation below parity having breached support at a rising trend line set from June 2010. The fundamentals point toward losses: RBA rate hike expectations are withering as CPI readings underperform and the economy is weighed by a slowdown in China; meanwhile, the Aussie remains the most overvalued major currency against the greenback on a PPP basis. I will look for confirmation on a break below range support at 0.9868 to enter short, initially targeting 0.9586. A stop will be triggered on a daily close above 1.0007.