AUDUSD continues its downward movement from 1.0582, and the fall extends to as low as 0.9594. Further decline is still possible next week, and next target would be at 0.9500 area. Resistance is at 0.9900, only break above this level could signal completion of the downtrend.
For long term analysis, AUDUSD is forming a sideways consolidation in a range between 0.9390 (Oct 4, 2011 low) and 1.1080 (Jul 27, 2011 high). Pullback to 0.9000 area could be expected over the next several weeks.
