AUDUSD Daily Analysis – December 7, 2016

AUDUSD failed to break above 0.7497 resistance. Another fall to test 0.7310 support would likely be seen in a couple of days, a breakdown below this level will confirm that the longer term downtrend from 0.7778 has resumed, then next target would be at 0.7200 area. On the upside, a break of 0.7497 resistance will indicate that the uptrend from 0.7310 has resumed, then the following upward movement could bring price to 0.7600 area.

audusd chart