AUDUSD Daily Analysis – October 14, 2014

AUDUSD failed to break below 0.8642 support, and stayed in the trading range between 0.8642 and 0.8898. Sideways movement in the range could be expected to continue in a couple of days. Resistance is at 0.8898, as long as this level holds, the price action in the range could be treated as consolidation of the downtrend from 0.9401, another fall towards 0.8000 is still possible after consolidation.

audusd chart