AUDUSD Weekly Analysis – July 20, 2014

AUDUSD moved sideways in a trading range between 0.9202 and 0.9504. As long as 0.9202 support holds, the price action in the range could be treated as consolidation of the uptrend from 0.8660, another rise to 1.0000 area is still possible after consolidation. However, a breakdown below 0.9202 support will signal completion of the uptrend, then the following downward movement could bring price to 0.8000 area.

audusd chart