AUDUSD Daily Analysis – August 18, 2014

AUDUSD’s rise from 0.9238 extended to as high as 0.9334. Further rise to test 0.9373 resistance is possible, as long as this level holds, the price action from 0.9275 could be treated as consolidation of the downtrend from 0.9470, another fall towards 0.9000 could be expected after consolidation.

audusd chart