AUDUSD Weekly Analysis – November 9, 2014

After consolidation, AUDUSD continued its downward movement from 0.9504, and the fall extended to as low as 0.8540. Further decline could be expected over the next several weeks, and next target would be at 0.8000 area. Resistance levels are at 0.8750 and 0.8910, only break above these levels could signal completion of the downtrend.

audusd chart