Daily Forex Analysis – July 9, 2008

AUDUSD Analysis.
AUDUSD is testing the key support at 0.9493, a break below this level will indicate that the up trend from 0.9327 (June 12 low) has completed, and signal a further decline to 0.9200 area. However, as long as the pair stays above 0.9493, we’d expect up trend to resume, and one more rise above 0.9667 is still possible.