AUDUSD Daily Analysis – December 18, 2014

AUDUSD’s downward movement from 0.8795 extended to as low as 0.8106. Further decline could be expected, and next target would be at 0.8000 area. Near term resistance is at the falling trend line on 4-hour chart, only a clear break above the trend line resistance could signal completion of the downtrend.

audusd chart