AUDUSD Daily Analysis – January 16, 2017

AUDUSD remains in uptrend from 0.7159, the fall from 0.7518 is likely consolidation of the uptrend. Support is at the upward trend line on 4-hour chart. As long as the trend line support holds, the uptrend could be expected to continue, and next target would be at 0.7600 area. Only a clear break below the trend line support could signal completion of the uptrend.

audusd chart