AUDUSD Daily Analysis – December 12, 2014

AUDUSD’s downward movement from 0.8795 extended to as low as 0.8214. Near term resistance is at the downward trend line on 4-hour chart, as long as the trend line resistance holds, further decline could be expected, and next target would be at 0.8000 area. Key resistance is at 0.8374, only break above this level could signal completion of the downtrend.

audusd chart