AUDUSD Daily Analysis – July 22, 2014

AUDUSD continued its sideways movement in a range between 0.9328 and 0.9455. Resistance is at 0.9455, as long as this level holds, the price action in the range could be treated as consolidation of the downtrend from 0.9504, another fall to 0.9250 is still possible after consolidation. Only break above 0.9455 resistance could trigger another rise to 0.9600 area.

audusd chart