AUDUSD Weekly Analysis – July 5, 2015

AUDUSD broke below 0.7532 support, indicating that the long term downtrend from 0.9504 (Jul 1, 2014 high) has resumed. Further decline could be seen after a minor consolidation, and next target would be at 0.7000 area. Resistance is at 0.7740, only break above this level will indicate that lengthier consolidation for the long term downtrend is underway, then the following upward movement could bring price back to 0.8000 zone.

audusd chart