AUD/USD (daily chart) as of Thursday (9/29/2011) has consolidated above key support in the 0.9700 price region. This occurs after price action dropped precipitously from its high just under 1.0800 in the beginning of the month. The month of September has shown a strong and steep bearish trend that has thus far culminated in an attempt to breakdown below 0.9700, but the pair has been unable to make a significant breach as of yet. But downside momentum for AUD/USD does not appear yet to be over. Price should make another attempt at breaking down below 0.9700, in which case the clear downside target resides around the ... (full story)