AUDUSD Weekly Analysis – November 8, 2015

AUDUSD stayed in the trading range between 0.6907 and 0.7439. The price action in the range is likely consolidation of the downtrend from 0.9504 (Jul 1, 2014 high), another fall towards 0.6500 could be expected after consolidation. Support is at 0.6907, a breakdown below this level could signal resumption of the downtrend.

audusd chart