AUDUSD Daily Analysis – May 1, 2014

AUDUSD is facing 0.9316 resistance, a break above this level will indicate that the downtrend from 0.9461 had completed at 0.9227 already, then the following upward movement could bring price to 0.9550 – 0.9600 area. On the downside, as long as 09316 resistance holds, the downtrend from 0.9461 could be expected to resume, and one more fall to 0.9180 area is still possible.

audusd chart