AUDUSD Daily Analysis – May 7, 2014

AUDUSD broke above 0.9316 key resistance, indicating that the downtrend from 0.9461 had completed at 0.9202 already. The pair is now in uptrend, further rise could be expected, and next target would be at 0.9500 area. Support is at 0.9250, only break below this level could trigger another fall towards 0.9000.

audusd chart