AUDUSD Daily Analysis – April 2, 2014

No changed in our view, AUDUSD remains in uptrend from 0.8995, the fall from 0.9303 is likely consolidation of the uptrend. Range trading between 0.9200 and 0.9303 would likely be seen in a couple of days. As long as 0.9200 support holds, the uptrend could be expected to resume, and next target would be at 0.9400 area. However, a breakdown below 0.9200 support will indicate that the uptrend from 0.8995 had completed at 0.9303 already, then the pair will find support around 0.9160.

audusd chart