AUDUSD Daily Analysis – December 5, 2014

AUDUSD’s downward movement from 0.8795 extended to as low as 0.8355. As long as the trend line resistance holds, the downtrend could be expected to continue, and next target would be at 0.8200 area. On the upside, a clear break above the trend line resistance will indicate that the downtrend had completed at 0.8355 already, then the following upward movement could bring price back to 0.8550 area.

audusd chart