AUDUSD Weekly Analysis – November 5, 2017

AUDUSD stays below a bearish trend line on daily chart and remains in the downtrend from 0.8124. As long as the price is below the trend line, the rise from 0.7624 could be treated as consolidation of the downtrend. Further decline could be expected after the consolidation and a breakdown below 0.7624 support could take price to next support level at 0.7535. Only a clear break above the trend line resistance could signal completion of the downtrend.

AUDUSD daily chart