AUDUSD Weekly Analysis – October 22, 2017

AUDUSD remains in the downtrend from 0.8124, the bounce from 0.7732 is likely correction of the downtrend. Further rally would likely be seen in the coming days and the target would be at 0.7986. However, the downtrend could be expected to resume after the correction and another fall to test the support of the resistance-turned-support trend line on the weekly chart is still possible.

AUDUSD daily chart