AUDUSD Daily Analysis – December 4, 2014

AUDUSD continued its downward movement from 0.8795, and the fall extended to as low as 0.8378. Near term resistance is located at the downward trend line on 4-hour chart, as long as the trend line resistance holds, the downtrend could be expected to continue, and next target would be at 0.8200 area. Only a clear break above the trend line resistance could signal completion of the downtrend.

audusd chart