AUDUSD Daily Analysis – September 12, 2017

AUDUSD broke below the bullish trend line on its 4-hour chart, indicating that the short term uptrend from 0.7871 had completed at 0.8124 already. Further decline could be expected in a couple of days and next target would be at 0.7950. The 07950 level could be treated as key support for the uptrend 0.7807. As long as this level holds, another rise towards 0.8162 is still possible. On the downside, a breakdown below 0.7950 support could signal completion of the uptrend, then the pair would find next support level at 0.7907.

AUDUSD 4-hour chart