AUDUSD Daily Analysis – October 6, 2014

After consolidation, AUDUSD continued its downward movement from 0.9401, and the fall extended to as low as 0.8642. Further decline is still possible, and next target would be at 0.8400 area. Key resistance is now at 0.8826, only break above this level could signal completion of the downtrend.

audusd chart