AUDUSD Weekly Analysis – January 18, 2015

No changed in our view, AUDUSD remains in downtrend from 0.9504 (Jul 1, 2014 high), the rise from 0.8032 is likely consolidation of the downtrend. Resistance is at the top of the price channel on daily chart, as long as the channel resistance holds, the downtrend could be expected to continue, and next target would be at 0.7500 area. Key resistance is at 0.8450, only break above this level could signal completion of the downtrend.

audusd chart