AUDUSD Daily Analysis – September 29, 2014

AUDUSD’s downward movement from 0.9401 extended to as low as 0.8692. Further decline could be expected after a minor consolidation, and next target would be at 0.8600 area. Key resistance is located at the downward trend line on 4-hour chart, only a clear break above the trend line resistance could signal completion of the downtrend.

audusd chart