AUDUSD Daily Analysis – April 18, 2014

AUDUSD broke below the bottom of the price channel on 4-hour chart, indicating that the uptrend from 0.8924 had completed at 0.9461 already. Range trading between 0.9250 and 0.9461 would likely be seen over the next several days. Support is now at 0.9250, as long as this level holds, the fall from 0.9461 would possibly be consolidation of the longer term uptrend from 0.8890 (Mar 3 low), one more rise towards 0.9550 is still possible.

audusd chart