AUDUSD Daily Analysis – April 17, 2014

Being contained by the lower line of the price channel on 4-hour chart, AUDUSD rebounded from 0.9331, indicating that the pair remains in uptrend from 0.8924, the fall from 0.9461 could be treated as consolidation of the uptrend. Further rise to test 0.9461 would likely be seen, a break above this level will signal resumption of the uptrend, then next target would be at 0.9600 area. Key support is now at 0.9331, only break below this level could signal completion of the uptrend.

audusd chart