AUDUSD Daily Analysis – May 15, 2014

AUDUSD’s upward movement from 0.9202 extended to as high as 0.9408. Key support is at 0.9318, as long as this level holds, the uptrend could be expected to continue, and next target would be at 0.9500 area. On the downside, a breakdown below 0.9318 support will signal completion of the uptrend, then deeper decline to 0.9000 area could be seen.

audusd chart