FX:AUDUSD Australian Dollar/U.S. Dollar
AUDUSD is in a clear sideways consolidation mode, after hitting the major swing low at 0.8845 areas, which formed a short term floor. A breakout of this sideways consolidation may signal a short term trading opportunity. Below 0.8845(daily closing) main downside target would be at the 1.271 extension of 0.8847-0.9757 wave of 0.8600. To the upside, above 0.8965 key resistance we might see a good rebound to 0.9160 areas.