AUDUSD Daily Analysis – February 21, 2014

AUDUSD moves sideways in a trading range between 0.8906 and 0.9080, the price action in the range could be treated as consolidation of the uptrend from 0.8660. As long as 0.8906 support holds, the uptrend could be expected to resume, and next target would be at 0.9300 area. Only a breakdown below 0.8906 support could signal completion of the uptrend.

audusd chart