AUDUSD Daily Analysis – August 5, 2014

No changed in our view, AUDUSD remains in downtrend from 0.9470, the rise from 0.9275 could be treated as consolidation of the downtrend. Resistance is at 0.9340, as long as this level holds, the downtrend could be expected to resume, and next target would be at 0.9250 area. On break above 0.9340 resistance could signal completion of the downtrend.

audusd chart