AUDUSD Daily Analysis – July 8, 2014

AUDUSD remains in downtrend from 0.9504, the rise from 0.9328 is likely consolidation of the downtrend. Another fall could be expected after consolidation, and next target would be at 0.9250 area. Resistance is at 0.9430, only break above this level could signal completion of the downtrend.

audusd chart