AUDUSD Analysis – July 27, 2013

AUDUSD is facing 0.9344 key resistance, as long as this level holds, the rise from 0.8998 could be treated as consolidation of the downtrend from 1.0582, and one more fall towards 0.8500 is still possible. On the upside, a break above 0.9344 resistance will indicate that the downtrend from 1.0582 had completed at 0.8998 already, then the following upward movement could bring price to 1.0000 zone.

audusd daily chart