AUDUSD Daily Analysis – March 13, 2014

Being contained by the lower line of the price channel on 4-hour chart, AUDUSD rebounded from 0.8924, indicating that the fall from 0.9133 is complete. Further rally could be expected and next target would be at 0.9100 area. On the downside, a breakdown below 0.8890 key support will confirm that the longer term uptrend from 0.8660 (Jan 24 low) had completed at 0.9133 already, then the following downward movement could bring price back toward 0.8500.

audusd chart