AUDUSD Daily Analysis – February 5, 2015

AUDUSD remains in downtrend from 0.8294, the rise from 0.7625 could be treated as consolidation of the downtrend. Range trading between 0.7625 and 0.7950 would likely be seen over the next several days. Resistance is at 0.7950, as long as this level holds, the downtrend could be expected to resume, and next target would be at 0.7500 area.

audusd chart