Forex Trading - AUD/USD Continues in a Range

The AUD/USD chart we have been publishing the last few trading sessions continues to trade in a range around the 200 day moving average, awaiting some direction possibly from the USD. An earlier report in regards to Australia's largest bank, the National Bank of Australia writing down losses associated with their US CDO (collateralized debt obligation) book, the loss was 90% of the CDO book value, a total write down of $830M AUD. The pair is currently trading north of support at the 61.8% Fibonacci retracement level.