AUDUSD Daily Analysis – January 10, 2018

AUDUSD broke below the bottom support trend line of the price channel on its 4-hour chart, indicating that the upside movement from 0.7501 had completed at 0.7874 already. Further decline would likely be seen after a minor consolidation and next target would be at 0.7750 area. Near term resistance is at 0.7845, followed by 0.7874, only break above these levels could trigger another rise towards 0.7950.

AUDUSD 4-hour chart