AUDUSD Daily Analysis – November 25, 2016

AUDUSD broke above the downward price channel on 4-hour chart and is now facing 0.7441 resistance, a break of this level will indicate that the downward movement from 0.7778 had completed at 0.7310 already, then the following upward movement could bring price to 0.7500 zone. On the downside, as long as 0.7441 resistance holds, the rise from 0.7310 could be treated as consolidation of the downtrend, and further decline to 0.7200 area is still possible.

audusd chart