AUDUSD Daily Analysis – October 23, 2014

AUDUSD continued its sideways movement in a range between 0.8642 and 0.8898. As long as 0.8898 resistance holds, the sideways move could be treated as consolidation of the downtrend from 0.9401, another fall to 0.8400 area is still possible. Only break above 0.8898 resistance could signal completion of the downtrend.

audusd chart