AUDUSD Weekly Analysis – January 4, 2015

AUDUSD stays below the downward trend line on daily chart, and remains in downtrend from 0.9504 (Jul 1, 2014 high). 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