AUDUSD Daily Analysis – August 7, 2014

AUDUSD remains in downtrend from 0.9470, the rise from 0.9275 could be treated as consolidation of the downtrend. Further decline to test 0.9202 (May 2 low) could be expected after consolidation. Resistance is at 0.9373, only break above this level could trigger another rise towards 0.9500.

audusd chart