AUDUSD Weekly Analysis – December 14, 2014

AUDUSD’s downward movement from 0.9504 extended to as low as 0.8214. Resistance is located at the downward trend line on daily chart. As long as the trend line resistance holds, the downtrend could be expected to continue, and next target would be at 0.7500 area. Only a clear break above the trend line resistance could signal completion of the downtrend.

audusd chart