AUDUSD Weekly Analysis – July 22, 2017

AUDUSD extended its bullish movement to as high as 0.7989. Now the pair is facing the resistance of the bearish price channel on its monthly chart at around 0.7900. A clear break above the channel resistance could take price to next resistance level at 0.8150, followed by 0.8450. Near term support is now at 0.7830, only a breakdown below this level will indicate that consolidation of the uptrend is underway, then the following pullback could bring price back towards the bullish trend line on the daily chart.

AUDUSD daily chart