AUDUSD Weekly Analysis – October 29, 2017

AUDUSD extended its bearish movement from 0.8124 to as low as 0.7624. Further decline could be expected after a minor consolidation and next target would be at 0.7535. Resistance is at the bearish trend line on the daily chart, only a clear break above the trend line resistance could signal completion of the downtrend.

AUDUSD daily chart