AUDUSD Daily Analysis – May 21, 2014

AUDUSD is facing 0.9202 support, a breakdown below this level will indicate that the downtrend from 0.9461 has resumed, then the following downward movement could bring price to 0.8500 area. Resistance is now at 0.9300, only break above this level will indicate that sideways consolidation is underway, and the trading range would be between 0.9202 and 0.9408.

audusd chart