AUDUSD Weekly Analysis – July 12, 2015

AUDUSD’s downward movement from 0.8162 extended to as low as 0.7371. Further decline is still possible after a minor consolidation, and next target would be at 0.7000 area. Resistance is now at 0.7600, 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