AUDUSD Weekly Analysis – June 21, 2015

AUDUSD moved sideways in a range between 0.7532 and 0.8162, the price action in the range is likely consolidation of the long term downtrend from 0.9504 (Jul 1, 2014 high), another fall towards 0.7000 is still possible after consolidation. Support is at 0.7532, a breakdown below this level could signal resumption of the downtrend. Resistance is at 0.8162, only break above this level could bring price back to 0.8800 zone.

audusd chart