AUDUSD Weekly Analysis – November 26, 2017

AUDUSD is now facing the resistance of the bearish trend line on the daily chart. As long as the price is below the trend line, the bounce from 0.7535 could be treated as consolidation of the downtrend from 0.8124 and further decline towards 0.7328 support is still possible. On the upside, a clear break above the trend line resistance could bring price to next resistance level at 0.7729. A break of this level will indicate that the downtrend had completed at 0.7535 already, then next target would be at 0.7897.

AUDUSD daily chart