AUDUSD Daily Analysis – April 15, 2014

AUDUSD moved sideways in a narrow range between 0.9362 and 0.9461. Key support is located at the lower line of the price channel on 4-hour chart. As long as the channel support holds, the price action from 0.9461 could be treated as consolidation of the uptrend from 0.8924, one more rise could be expected, and the target would be at 0.9600 area. Only a clear break below the channel support could signal completion of the uptrend.

audusd chart