AUDUSD Analysis – July 13, 2013

AUDUSD continues its downward movement from 1.0582, and the fall extends to as low as 0.8998. Resistance is at the downward trend line on daily chart, as long as the trend line resistance holds, further decline is still possible, and next target would be at 0.8800 area, only a clear break above the trend line resistance could signal consolidation of the downtrend.

audusd daily chart