AUDUSD Weekly Analysis – January 25, 2014

AUDUSD’s downward movement from 0.9756 extended to as low as 0.8660. Resistance is located at the downward trend line on daily chart, as long as the trend line resistance holds, the downtrend could be expected to continue, and next target would be at 0.8500 area. Only a clear break above the trend line resistance could signal completion of the downtrend.

audusd chart