AUDUSD Weekly Analysis – February 14, 2016

AUDUSD continued its sideways movement in a range between 0.6826 and 0.7439. As long as 0.7439 resistance holds, the sideways movement could be treated as consolidation of the long term downtrend from 0.9504 (Jul 1, 2014 high), another fall towards 0.6500 could be expected after consolidation. Only break above 0.7439 resistance could signal completion of the downtrend.

audusd chart