AUDUSD Weekly Analysis – October 18, 2015

AUDUSD remains in downtrend from 0.9504 (Jul 1, 2014 high), the rise from 0.6907 is likely consolidation of the downtrend. Resistance is at 0.7439, as long as this level holds, the downtrend could be expected to resume, and further decline to 0.6500 area is still possible. Key resistance is at 0.7650, only break above this level could signal completion of the downtrend.

audusd chart