AUDUSD Weekly Analysis – August 3, 2014

AUDUSD continued its sideways movement in a range between 0.9202 and 0.9504. As long as 0.9202 key support holds, the uptrend from 0.8660 could be expected to resume, and next target would be at 1.0000. 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