AUDUSD Analysis – September 24, 2011

AUDUSD broke below 0.9927 support and reached as low as 0.9670, suggesting that the long term uptrend from 0.8066 (2010 low) has completed at 1.1080 already. Further fall is now in favor, and next target would be at 0.9300 area.

For long term analysis, AUDUSD is in downtrend from 1.1080. Deeper decline towards 0.9000 could be seen.

audusd daily chart