AUDUSD Daily Analysis – June 13, 2014

AUDUSD stays in a upward price channel on 4-hour chart, and remains in uptrend from 0.9229. Support is located at the bottom of the channel, as long as the channel support holds, the uptrend could be expected to continue, and further rise to test 0.9461 (Apr 10 high) resistance is possible. On the downside, a clear break below the channel support will indicate that the uptrend from 0.9229 had completed, then deeper decline to 0.9250 area could be seen.

audusd chart