AUDUSD Weekly Analysis – February 22, 2014

AUDUSD is testing 0.9085 resistance. As long as this level holds, the rise from 0.8660 could be treated as consolidation of the downtrend from 0.9756, one more fall to 0.8500 area is still possible. However, a break above 0.9085 resistance will indicate that the downtrend had completed at 0.8660 already, then further rise to 0.9600 area could be seen.

audusd chart