AUDUSD Analysis – June 29, 2013

AUDUSD stays below a downward trend line on daily chart, and remains in downtrend from 1.0582, and the fall extends to as low as 0.9113. Further decline is still possible after a minor consolidation, and next target would be at 0.9000 area. Initial resistance is at the trend line, and the key resistance is now at 0.9450, only break above this level could signal completion of the downtrend.

audusd daily chart