AUDUSD Daily Analysis – August 4, 2014

AUDUSD remains in downtrend from 0.9470, the rise from 0.9275 is likely consolidation of the downtrend. Further decline could be expected, and next target would be at 0.9250 area. Resistance is at 0.9340, only break above this level could signal completion of the downtrend.

audusd chart