AUDUSD Weekly Analysis – July 13, 2014

AUDUSD remains in uptrend from 0.8660, the price action from 0.9461 is likely consolidation of the uptrend. Key support is at 0.9202, as long as this level holds, the uptrend could be expected to resume, and further rise to 1.0000 area is still possible. On the downside, a breakdown below 0.9202 support will indicate that the uptrend had completed at 0.9504 already, then the following downward movement could bring price to 0.8000 area.

audusd chart