AUDUSD Weekly Analysis – December 28, 2014

AUDUSD’s downward movement from 0.9504 extended to as low as 0.8087. Further decline could be expected after a minor consolidation, and next target would be at 0.7500 area. Resistance is located at the downward trend line on daily chart, only a clear break above the trend line resistance could signal completion of the downtrend.

audusd chart