AUDUSD Daily Analysis – July 15, 2014

AUDUSD remains in downtrend from 0.9504, the bounce from 0.9328 to 0.9455 is likely correction of the downtrend. Resistance is at 0.9455, as long as this level holds, another fall could be expected, and next target would be at 0.9250 area. Only break above 0.9455 resistance will indicate that the uptrend from 0.9208 has resumed, then the following upward movement could bring price to 0.9600 area.

audusd chart