AUDUSD Daily Analysis – September 1, 2014

AUDUSD is facing the support of the upward trend line on 4-hour chart. As long as the trend line support holds, the fall from 0.9373 could be treated as consolidation of the uptrend from 0.9237, another rise towards 0.9450 is still possible. On the downside, a clear break below the trend line support will indicate that the uptrend had completed at 0.9373 already, then deeper decline to test 0.9237 support could be seen.

audusd chart