AUDUSD Daily Analysis – June 4, 2014

AUDUSD stays in a trading range between 0.9208 and 0.9329. 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. Resistance is at 0.9329, only break above this level will indicate that lengthier sideways movement in a range between 0.9202 and 0.9461 is underway.

audusd chart