The AUD/USD slid to the next area of support after falling below 0.98 in the 5/22 session. It dipped below 0.97 but retreated a bit as the 5/23 trading session comes to a close. This 0.9660-0.97 area provided support in March and November of 2011, though this time around the momentum is a bit stronger to the downside as the RSI dipped below 30 slightly further than the previous two times. Still, from a technical perspective the market may be a bit stretched to the downside and at this support area, we can expect some consolidation. The 4H and 1H charts both show bullish divergence, while the daily chart would do the ... (full story)