AUDUSD Daily Analysis – July 28, 2014

AUDUSD broke below the upward trend line on 4-hour chart, indicating that the uptrend from 0.9328 had completed at 0.9470 already. Further decline could be expected, and next target would be at 0.9340 area. Resistance is at 0.9435, as long as this level holds, the downtrend from 0.9470 will continue.

audusd chart