AUDUSD Analysis – July 6, 2013

AUDUSD remains in downtrend from 1.0582, and the fall extends to as low as 0.9037. Resistance is located at the downwards trend line on daily chart, as long as the trend line resistance holds, the downtrend could be expected to continue, and next target would be at 0.8800 area, only a clear break above the trend line resistance could signal consolidation of the downtrend.

audusd daily chart