AUDUSD Daily Analysis – June 5, 2014

AUDUSD continued its sideways movement in a range between 0.9208 and 0.9329. Support is at 0.9202, 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 located at 0.9329, above this level will indicate that lengthier sideways movement in a range between 0.9202 and 0.9461 is underway.

audusd chart