AUDUSD Weekly Analysis – December 20, 2015

AUDUSD stayed in the trading range between 0.6907 and 0.7439 for several months. As long as 0.7439 resistance holds, the price action in the range could be treated as consolidation of the long term downtrend from 0.9504 (Jul 1, 2014 high), another fall towards 0.6500 is still possible after consolidation.

audusd chart