AUDUSD Weekly Analysis - January 5, 2014

Long Term Forex Analysis | by ForexCycle.com | Sunday, 05 January 2014 05:41 UTC
AUDUSD is facing the resistance of the downward trend line on daily chart. As long as the trend line resistance holds, the downtrend from 0.9756 could be expected to resume, and another fall towards 0.8500 is still possible. On the upside, a clear break above the trend line resistance will indicate that the downtrend from 0.9756 had completed at 0.8820 already, then the following upward movement could bring price to 0.9650 zone.

audusd chart

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