AUDUSD Weekly Analysis – April 27, 2014

AUDUSD is facing the support of the bottom of the price channel on daily chart. As long as the channel support holds, the fall from 0.9461 would possibly be consolidation of the uptrend from 0.8660, one more rise to 0.9550 – 0.9600 area to complete the upward movement is still possible. However, a clear break below the channel support will indicate that the uptrend from 0.8660 had completed at 0.9461 already, then the following downward movement could bring price back to 0.8000 zone.

audusd chart