AUDUSD Daily Analysis – April 16, 2014

AUDUSD is facing the support of the price channel on 4-hour chart. As long as the channel support holds, the fall from 0.9461 could be treated as consolidation of the uptrend from 0.8924, one more rise to 0.9600 area is still possible after consolidation. On the downside, a clear break below the channel support will indicate that the uptrend from had completed at 0.9461 already, then deeper decline to 0.9250 area could be seen.

audusd chart