AUDUSD Daily Analysis – September 2, 2014

AUDUSD broke below the upward trend line on 4-hour chart, indicating that the uptrend from 0.9237 had completed at 0.9373 already. Further decline to test 0.9237 support would likely be seen, a breakdown below this level will signal completion of the longer term uptrend from 0.8660 (Jan 24 low), then the following downward movement could bring price to 0.8000 area.

audusd chart