AUDUSD Daily Analysis – November 6, 2014

AUDUSD broke below 0.8642 support, indicating that the downtrend from 0.9401 (Sept 5 high) has resumed. Further decline could be expected over the next several days, and next target would be at 0.8400 area. Near term resistance is located at the downward trend line on 4-hour chart, as long as the trend line resistance holds, the downtrend from 0.8910 will continue.

audusd chart