AUDUSD Analysis – August 10, 2013

AUDUSD remains in downtrend from 1.0582, the rise from 0.8847 is likely consolidation of the downtrend. Key resistance is at 0.9344, as long as this level holds, the downtrend could be expected to resume, and one more fall to 0.8500 area is still possible. On the upside, a break above 0.9344 resistance will indicate that the downtrend from 1.0582 had completed at 0.8847 already, then the following upward movement could bring price to 1.0300 area.

audusd daily chart