AUDUSD Weekly Analysis – March 2, 2014

AUDUSD failed to break above 0.9085 resistance and pulled back to 0.8903. However, another rise to re-test 0.9085 resistance would likely be seen, a break above this level will signal completion of the downtrend from 0.9756, then further rise to 0.9600 area could be seen. On the downside, as long as 0.9085 resistance holds, the rise from 0.8660 would possibly be consolidation of the downtrend from 0.9756, one more fall to 0.8500 area could be expected after consolidation.

audusd chart