AUDUSD Weekly Analysis – May 31, 2015

AUDUSD is facing 0.7532 support, a breakdown below this level will indicate that the long term down trend from 0.9504 (Jul 1, 2014 high) has resumed, then the following downward movement could bring price to 0.7000 area. However, as long as 0.7532 support holds, the fall from 0.8162 would possibly be correction of the uptrend from 0.7532, one more rise to 0.8800 area is still possible.

audusd chart