AUDUSD Weekly Analysis – January 14, 2018

AUDUSD extended its upside movement from 0.7501 to as high as 0.7924. Further rise is still possible after a minor consolidation and next target would be at 0.8124 resistance. Above this level would aim 0.8300 area. Near term support is at 0.7800, only a breakdown below this level will indicate that correction for the uptrend is underway, then deeper decline towards 0.7650 – 0.7700 area could be seen.

AUDUSD daily chart