AUDUSD Daily Analysis – February 24, 2014

AUDUSD stayed in a trading range between 0.8906 and 0.9080 for several days. Australia-Five-Kangaroos-Design-1-Dollar-CoinThe price action in the range is likely consolidation of the uptrend from 0.8660.

As long as 0.8906 support holds, the uptrend could be expected to resume, and next target would be at 0.9300 area.

Only break below 0.8906 support could signal completion of the uptrend.

 

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