AUDUSD Weekly Analysis – December 14, 2013

AUDUSD is facing 0.8847 support, a breakdown below this level will indicate that the downtrend from 1.0582 (Apr 11 high) has resumed, then next target would be at 0.8500 area. Initial resistance is located at the downward trend line on daily chart, only a clear break above the trend line resistance will indicate that the downward movement from 0.9756 has completed, then further rise to 0.9850 area could be seen.

audusd daily chart