AUDUSD Daily Analysis – January 15, 2015

AUDUSD remains in downtrend from 0.8910 (Oct 29, 2014 high), the rise from 0.8032 is likely consolidation of the downtrend. Sideways movement in a range between 0.8032 and 0.8300 would likely be seen in a couple of days. However, as long as 0.8300 resistance holds, the downtrend could be expected to resume, and another fall towards 0.7500 is still possible after consolidation.

audusd chart