AUDUSD Daily Analysis – January 19, 2015

AUDUSD’s bounce from 0.8032 extended to as high as 0.8294. Further rise could be expected, and the target would be at 0.8350 area. However, the rise is likely consolidation of the downtrend from 0.8910 (Oct 29, 2014 high), one more fall towards 0.7500 is still possible after consolidation.

audusd chart