AUDUSD Daily Analysis – December 30, 2013

AUDUSD is facing 0.8820 previous low support, a breakdown below this level will signal resumption of the downtrend from 0.9756 (Oct 23 high), then next target would be at 0.8500 area. Key resistance is located at the upper line of the price channel on 4-hour chart, only a clear break above the channel resistance could signal completion of the downtrend.

audusd chart