AUDUSD Analysis – September 15, 2013

After touching 0.9344 resistance, AUDUSD pulled back from 0.9353, suggesting that lengthier consolidation of the downtrend from 1.0582 is underway. Range trading between 0.8847 and 0.9344 could be expected to continue in a couple of weeks. Resistance is at 0.9344, only a clear break above this level could signal completion of the downtrend.

audusd daily chart