AUDUSD Weekly Analysis – November 1, 2014

AUDUSD remains in downtrend from 0.9504, the rise from 0.8642 is likely consolidation of the downtrend. Resistance is at 0.8910, as long as this level holds, the downtrend could be expected to resume, and next target would be at 0.8200 area. Key resistance is at 0.9000, only break above this level could signal completion of the downtrend.

audusd chart