AUDUSD Weekly Analysis – June 14, 2015

Being contained by 0.7532 support, AUDUSD formed a sideways consolidation in a narrow range for several days. As long as 0.7532 support holds, the fall from 0.8162 would possibly be correction of the uptrend from 0.7532, another rise towards 0.8800 is still possible. On the downside, a breakdown below 0.7532 will indicate that the long term downtrend from 0.9504 (Jul 1, 2014 high) has resumed, then next target would be at 0.7000 zone.

audusd chart