AUDUSD Weekly Analysis – March 22, 2014

AUDUSD remains in uptrend from 0.8660, the price action in the trading range between 0.8890 and 0.9137 could be treated as consolidation of the uptrend. Key support is at 0.8890, as long as this level holds, the uptrend could be expected to continue, and next target would be at 0.9400 area. On the downside, a breakdown below 0.8890 support will indicate that the uptrend from 0.8660 had completed at 0.9137 already, then the following downward movement could bring price to 0.8000 zone.

audusd chart