AUDUSD Weekly Analysis – April 19, 2015

AUDUSD moved sideways in a trading range between 0.7532 and 0.7938. As long as 0.7938 resistance holds, the sideways movement could be treated as consolidation of the downtrend from 0.9504 (Jul 1, 2014 high), another fall to 0.7000 area is still possible after consolidation. Key resistance is now at 0.7938, only break above this level could signal completion of the downtrend.

audusd chart