AUDUSD Daily Analysis – April 24, 2014

AUDUSD stays in a downward price channel on 4-hour chart, and remains in downtrend from 0.9461. Resistance is located at the upper line of the channel, as long as the channel resistance holds, the downtrend could be expected to continue, and the target would be at 0.9250 area. Key resistance is at 0.9377, only break above this level could signal completion of the downtrend.

audusd chart