AUDUSD Weekly Analysis – September 24, 2017

AUDUSD broke below the bullish support trend line on its daily chart, suggesting that lengthier consolidation for the uptrend from 0.7328 is underway. Range trading between 0.7807 and 0.8124 would likely be seen in a couple of weeks. As long as 0.7807 key support holds, the uptrend could be expected to resume and another rise towards 0.8162 is still possible. On the downside, a breakdown below 0.7807 key support would confirm that the uptrend had completed at 0.8124 already, then the following bearish movement could bring price back to 0.7500 area.

AUDUSD Daily Chart