AUDUSD Daily Analysis – January 20, 2014

AUDUSD’s downward movement from 0.9085 extended to as low as 0.8756. Resistance is at 0.8850, as long as this level holds, the downtrend could be expected to continue, and next target would be at 0.8600 area. Only break above 0.8850 resistance could signal completion of the downtrend.

audusd chart