AUDUSD Analysis – June 23, 2013

AUDUSD’s downward movement from 1.0582 extends to as low as 0.9163. Further decline is still possible, and next target would be at 0.9000 area. Initial resistance is at the downward trend line on daily chart, as long as the trend line resistance holds, the downtrend will continue. Key resistance is at 0.9665, only break above this level could signal completion of the downtrend.

audusd daily chart