AUDUSD Daily Analysis – June 2, 2014

AUDUSD’s bounce from 0.9208 extended to as high as 0.9329, the subsequent fall indicate that the bounce had completed, another fall to test 0.9202 support would likely be seen, a breakdown below this level will signal resumption of the downtrend from 0.9461 (Apr 10 high), then the following downward movement could bring price to 0.8800 area.

audusd chart