AUDUSD Weekly Analysis – May 25, 2014

AUDUSD is facing 0.9202 support, a breakdown below this level will signal completion of the uptrend from 0.8660, then the following downward movement could bring price back to 0.8500 area. On the upside, as long as 0.9202 support holds, the fall from 0.9461 could be treated as consolidation of the uptrend from 0.8660, one more rise to 0.9550 – 0.9600 area to complete the upward movement is still possible.

audusd chart