AUDUSD Weekly Analysis – December 25, 2016

AUDUSD’s downward movement from 0.7778 extended to as low as 0.7159. Further decline is still possible over the next several weeks, and next target would be at 0.6900 area. Near term resistance is at the downward trend line on daily chart, as long as the trend line resistance holds, the downtrend will continue.

audusd chart