AUDUSD Daily Analysis – July 10, 2014

AUDUSD remains in downtrend from 0.9504, the rise from 0.9328 would possibly be correction of the downtrend. Key resistance is at 0.9504, as long as this level holds, the downtrend could be expected to resume, and another fall to 0.9250 area is still possible. On the upside, a break above 0.9504 resistance will signal resumption of the uptrend from 0.9208, then next target would be at 0.9600 area.

audusd chart