AUDUSD Weekly Analysis – January 15, 2017

AUDUSD broke above the downward trend line on daily chart, indicating that the downward movement from 0.7778 had completed at 0.7158 already. Further rise could be expected over the next several weeks, and next target would be at 0.8000 area. Support is at 0.7300, only break below this level could trigger another fall towards 0.6900.

audusd chart