AUDUSD Daily Analysis – October 16, 2014

AUDUSD continued its sideways movement in a range between 0.8642 and 0.8898. As long as 0.8898 resistance holds, the price action in the range could be treated as consolidation of the downtrend from 0.9401, another fall to 0.8400 area could be expected after consolidation.

audusd chart