AUDUSD Daily Analysis – February 4, 2014

AUDUSD continues its sideways movement in a range between 0.8660 and 0.8887. As long as 0.8887 resistance holds, the downtrend from 0.9085 could be expected to resume, and another fall to 0.8500 area is still possible. Only break above 0.8887 resistance could signal completion of the downtrend.

audusd chart