AUDUSD Daily Analysis – July 1, 2014

AUDUSD moved sideways in a trading range between 0.9321 and 0.9444. As long as 0.9321 key support holds, the price action in the range could be treated as consolidation of the uptrend from 0.9208, another rise to 0.9500 area is still possible after consolidation. On the downside, a breakdown below 0.9321 support will indicate that the uptrend had completed at 0.9444 already, then the following downward movement could bring price back to 0.9250 zone.

audusd chart