AUDUSD Daily Analysis – October 20, 2014

AUDUSD stays in the trading range between 0.8642 and 0.8898. The price action in the range is likely consolidation of the downtrend from 0.9401. As long as 0.8898 resistance holds, the downtrend could be expected to resume, and another fall to 0.8400 area is possible.

audusd chart