AUDUSD Daily Analysis – January 22, 2018

AUDUSD’s upside movement from 0.7501 extended to as high as 0.8038. Further rise is still possible and next target would be at 0.8124 resistance. Near term support is at 0.7936, followed by the bullish trend line on its 4-hour chart. Only a clear break below the trend line support will indicate that the upside movement had completed at 0.8038 already, then the pair would find next support level at 0.7807.

AUDUSD 4-hour chart