AUDUSD Analysis – Oct 4, 2008

AUDUSD breaks below 0.7802 previous low support and reaches as low as 0.7698 level. Deeper decline could be seen to 0.7500 zone next week. Near term resistance is now at 0.7900, as long as this level holds, we’d expect down trend to continue.

For long term analysis, AUDUSD breaks below 0.7802 level and is back to long term bearish movement. Further fall towards 0.7000 zone is expected in next several weeks.

audusd daily chart

audusd weekly chart