AUDUSD Weekly Analysis – March 16, 2014

AUDUSD moved sideways in a trading range between 0.8890 and 0.9133. As long as 1.8890 support holds, the price action in the range could be treated as consolidation of the uptrend from 0.8660, one more rise to 0.9600 area to complete the upward movement is possible. On the downside, a breakdown below 0.8890 support will indicate that the uptrend from 0.8660 had completed at 0.9133 already, then the following downward movement could bring price to 0.8000 zone.

audusd chart