AUDUSD Daily Analysis – February 16, 2015

AUDUSD moved sideways in a trading range between 0.7625 and 0.7875. Near term resistance is at 0.7875, as long as this level holds, the price action in the range could be treated as consolidation of the downtrend from 0.8294, another fall towards 0.7000 is still possible after consolidation.

audusd chart