AUDUSD Weekly Analysis – February 8, 2014

AUDUSD broke above the upper line of the price channel on daily chart, suggesting that the downward movement from 0.9756 had completed at 0.8660 already. Further rally would likely be seen over the next several weeks, and the target would be at 0.9600 area. Support is at 0.8660, only break below this level could trigger another all to 0.8500 zone.

audusd chart