AUDUSD Daily Analysis – December 16, 2016

AUDUSD continued its downward movement from 0.7524 and the fall extended to as low as 0.7337. Further decline to test 0.7310 support is possible, a break below this level will signal resumption of the longer term downtrend from 0.7778, then next target would be at 0.7200 area. Resistance is at 0.7450, only break above this level could trigger another rise to 0.7600 zone.

audusd chart