AUDUSD Daily Analysis – December 31, 2014

AUDUSD broke above the upper line of the price channel on 4-hour chart, indicating that the downtrend from 0.8795 had completed at 0.8087 already. Further rally would likely be seen over the next several days, and the target would be at 0.8300 area. Support is at 0.8087, only break below this level could trigger another fall towards 0.7500.

audusd chart