AUDUSD Weekly Analysis – January 12, 2014

AUDUSD broke above the downward trend line on daily chart, suggesting that consolidation of the downtrend from 0.9756 is underway. Further rally could be expected in a couple of weeks, and the target would be at 0.9200 area. Key support is at 0.8820, only break below this level could trigger another fall towards 0.8500.

audusd chart