AUDUSD Daily Analysis – August 14, 2014

AUDUSD is facing the resistance of the downward trend line on 4-hour chart. As long as the trend line resistance holds, the bounce from 0.9238 could be treated as consolidation of the downtrend from 0.9470, another fall towards 0.9000 is still possible after consolidation. On the upside, a clear break above the trend line resistance will signal completion of the downtrend, then further rise to 0.9450 area could be seen.

audusd chart