AUDUSD Daily Analysis – April 22, 2014

AUDUSD stays in a downward price channel on 4-hour chart, and remains in downtrend from 0.9461. As long as the channel resistance holds, the downtrend could be expected to continue, and the target would be at 0.9250 area. Only a clear break above the channel resistance could signal completion of the downtrend.

audusd chart