AUDUSD Analysis – September 28, 2013

AUDUSD remains in uptrend from 0.8847, the fall from 0.9526 is likely consolidation of the uptrend. Key support is now located at the lower line of the price channel on daily chart. As long as the channel support holds, the uptrend could be expected to resume, and one more rise towards 1.0000 is still possible after consolidation. On the downside, a clear break below the channel support will indicate that the uptrend from 0.8847 had completed at 0.9526 already, then the following downward movement could bring price back to 0.8500 zone.

audusd daily chart