AUDUSD Weekly Analysis – October 26, 2014

AUDUSD remains in downtrend from 0.9504, the sideways movement in a range between 0.8642 and 0.8898 is likely consolidation of the downtrend. Near term resistance is at 0.8898, as long as this level holds, the downtrend could be expected to continue, and next target would be at 0.8200 area. Key resistance is at 0.9000, only break above this level could signal completion of the downtrend.

audusd chart