AUDUSD Daily Analysis – January 15, 2014

AUDUSD broke below 0.8940 support, suggesting that the upward movement from 0.8820 had completed at 0.9085 already. Further decline to test 0.8820 support could be expected, a breakdown below this level will signal resumption of the longer term downtrend from 0.9756 (Oct 23, 2013 high). Resistance is at 0.9000, only break above this level could trigger another rise towards 0.9200.

audusd chart