AUDUSD Daily Analysis – February 25, 2014

AUDUSD continues its sideways movement in a range between 0.8906 and 0.9080. As long as 0.8906 support holds, the price action in the range could be treated as consolidation of the uptrend from 0.8660, another rise towards 0.9400 could be expected after consolidation. On the downside, a breakdown below 0.8906 support will signal completion of the uptrend from 0.8660, then the following downward movement could bring price back to 0.8500 zone.

audusd chart