AUDUSD Daily Analysis – August 13, 2014

AUDUSD stays below the downward trend line on 4-hour chart, and remains in downtrend from 0.9470, the rise from 0.9238 could be treated as consolidation of the downtrend. As long as the trend line resistance holds, the downtrend could be expected to resume, and another fall towards 0.9000 is still possible. Only a clear break above the trend line resistance could signal completion of the downtrend.

audusd chart