AUDUSD Daily Analysis – August 25, 2014

AUDUSD moved sideways in a range between 0.9237 and 0.9343. The price action in the range is likely consolidation of the downtrend from 0.9504 (Jul 1 high). As long as 0.9343 resistance holds, the downtrend could be expected to resume, and another fall towards 0.9000 is still possible. Only break above 0.9343 resistance will indicate that the downtrend had completed at 0.9237 already, then further rise to 0.9450 area could be seen.

audusd chart