AUDUSD Daily Analysis – January 5, 2015

After consolidation, AUDUSD continued its downward movement from 0.8795 (Nov 17, 2014 high), and the fall extended to as low as 0.8052. Key resistance is now at 0.8214, as long as this level holds, the downtrend could be expected to continue, and next target would be at 0.7900 area. Only break above 0.8214 resistance could signal completion of the downtrend.

audusd chart