AUDUSD Daily Analysis – February 14, 2014

AUDUSD stays within a upward price channel on 4-hour chart, and remains in uptrend from 0.8660. Further rise to test 0.9085 resistance would likely be seen, a break above this level will indicate that the downtrend from 0.9756 (Oct 23, 2013 high) had completed at 0.8660 already, then the following upward movement could bring price to 0.9600 area. Initial support is at the lower line of the channel, and the key support is at 0.8906, only break below this level could trigger another fall towards 0.8500.

audusd chart