Forex: AUD/USD dropped to lows around 0.9920/25

FXstreet.com (Barcelona) - The Aussie dollar is accelerating its downside on Tuesday, falling to the area of 0.9920/25, levels last seen in June 2012, after the Australian Federal Budget now projects a A$19.4 billion deficit in 2012-2013, higher than October’s surplus of A$1.1 billion. Further data showed that the 2013/14 deficit will now be A$18 billion from A$2.2 billion surplus.

As of writing, the cross is losing 0.19% at 0.9932 facing the next support at 0.9922 (low Jun.14 2012) ahead of 0.9850 (low Jun.12 2012) and finally 0.9827 (76.4% of 0.9581-1.0625).
On the upside, a surpass of 1.0004 (hourly high May 14) would expose 1.0055 (hourly high/lows May 10) and then 1.0096 (high May 10).