AUDUSD Daily Analysis - September 6, 2016

Short Term Forex Analysis | by ForexCycle.com | Tuesday, 06 September 2016 02:43 UTC
AUDUSD is facing the resistance of the downward trend line on 4-hour chart. As long as the trend line resistance holds, the rise from 0.7489 could be treated as consolidation of the downtrend from 0.7755. Further decline could be expected after consolidation, and next target would be at 0.7250 area. On the upside, a clear break above the trend line resistance will indicate that the downtrend had completed at 0.7489 already, then the following upward movement could bring price to 0.8000 zone.

audusd chart

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