AUDUSD Daily Analysis – December 29, 2014

AUDUSD remains in downtrend from 0.8795, the rise from 0.8087 is likely consolidation of the downtrend. Near term resistance is at the upper line of the price channel on 4-hour chart, as long as the channel resistance holds, the downtrend could be expected to continue, and next target would be at 0.8000 area. Key resistance is at 0.8275, only break above this level could signal completion of the downtrend.

audusd chart