AUDUSD Daily Analysis – December 28, 2016

AUDUSD remains in downtrend from 0.7524, the rise from 0.7159 is likely consolidation of the downtrend. Resistance is at 1.7280, as long as this level holds, the downtrend could be expected to continue, and next target would be at 0.7000 area. Only break above 0.7280 resistance could signal completion of the downtrend.

audusd chart