AUDUSD Daily Analysis – January 16, 2014

AUDUSD breaks below 0.8820 support, indicating that the downtrend from 0.9756 (Oct 23, 2013 high) has resumed. Further decline could be expected after a minor consolidation, and next target would be at 0.8700 area. Resistance is at 0.8915, as long as this level holds, the downtrend will continue.

audusd chart