AUDUSD Daily Analysis – April 9, 2014

AUDUSD’s upward movement from 0.8924 extended to as high as 0.9385. Support is located at the lower line of the price channel on 4-hour chart. As long as the channel support holds, the uptrend could be expected to continue, and next target would be at 0.9500 area. Only a clear break below the channel support could signal completion of the uptrend.

audusd chart