AUDUSD Daily Analysis – October 12, 2016

AUDUSD continued its downward movement from 0.7710 and the fall extended to as low as 0.7532. Resistance is now at 0.7628, as long as this level holds, the downtrend could be expected to continue, and next target would be at 0.7400 area. On the upside, a break of 0.7628 resistance will indicate that the downtrend had completed at 0.7532 already, then the following upward movement could bring price to 0.8000 area.

audusd chart