AUDUSD Daily Analysis – October 31, 2014

AUDUSD moved sideways in a trading range between 0.8642 and 0.8910. The sideways movement could be treated as consolidation of the downtrend from 0.9401, as long as 0.8910 resistance holds, another fall to 08400 area is still possible. Only break above 0.8910 resistance could signal completion of the downtrend.

audusd chart