AUDUSD Daily Analysis – June 16, 2014

AUDUSD remains in uptrend from 0.9229, the fall from 0.9437 is likely consolidation of the uptrend. Near term support is located at the bottom of the price channel on 4-hour chart, as long as the channel support holds, the uptrend could be expected to continue, and next target would be at 0.9500 area. Key support is at 0.9349, only break below this level could signal completion of the uptrend, then the following downward movement could bring price back to 0.9250 area.

audusd chart