AUDUSD Daily Analysis – September 23, 2014

AUDUSD continued its downward movement from 0.9401, and the fall extended to as low as 0.8852. Resistance is located at the downward trend line on 4-hour chart. As long as the trend line resistance holds, the downtrend could be expected to continue, and next target would be at 0.8700 area. Only a clear break above the trend line resistance could signal completion of the downtrend.

audusd chart