AUDUSD Daily Analysis – July 9, 2014

AUDUSD’s bounce from 0.9328 extended to as high as 0.9415. Resistance is at 0.9430, as long as this level holds, the bounce could be treated as correction of the downtrend from 0.9504, another fall to 0.9250 area is still possible after correction. Only break above 0.9430 resistance could signal completion of the downtrend.

audusd chart