AUDUSD Weekly Analysis – October 4, 2015

AUDUSD is facing 0.6907 support, a breakdown below this level will indicate that the downtrend from 0.9504 (Jul 1, 2014 high) has resumed, then next target would be at 0.6500 area. On the other side, as long as 0.6907 support holds, sideways consolidation in a range between 0.6907 and 0.7439 could be expected to continue. Key resistance is at 0.7439, only break above this level could signal completion of the downtrend.

audusd chart