The AUDUSD maintained  a bearish momentum yesterday , bottomed at the 0.9302  levels and topped at the 0.9387 levels .This development leaves the pair targeting the 0.9256 levels , a halt is likely , but losing this level on a daily closing basis will open 0.9200 next , further downside will aim the 0.9135 levels…..

On the upside , resistance comes at the 0.9330 levels ahead of the 0.9387 levels ( main ) , break of the 0.9387 levels on a daily closing basis , will turn outlook neutral for retesting the 0.9470/0.9504 levels before the next fall………

In all , as long as resistance 0.9387 holds on a daily closing basis, outlook in AUDUSD remains on the downside towards the  0.9256/0.9200 levels, above the 0.9387  levels will reverse risks towards the 0.9470/0.9504 levels before the next fall……..


AUDUSD Daily Forecast Jul 31 2014

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