AUDUSD Analysis – November 3, 2013

AUDUSD breaks below the lower line of the price channel on daily chart, suggesting that the uptrend from 0.8847 had completed at 0.9756 already. The pair is now in downtrend, further decline would likely be seen, and next target would be at 0.9250 area. Key resistance is at 0.9756, only break above this level could trigger another rise towards 1.0000.

audusd daily chart