AUD/USD looks set to test trendline at 0.98/0.9850

FXstreet.com (Barcelona) - After the AUD/USD broke below $1.00 for the first time since last June, Marc Chandler, Head of Curency Analysts at BBH, expect now a technical bounce "to alleviate the over-extended technical condition which could see the Aussie trade toward $1.0070-$1.0100" he said. After the correction, "we look for the Aussie to test the trend line drawn off the 2011 and 2012 lows, which comes in near $0.9800 now and $0.9850 by the end of the quarter."