AUDUSD Weekly Analysis – November 12, 2017

AUDUSD formed a sideways movement in a narrow range between 0.7624 and 0.7729. The sideways movement is likely consolidation of the downtrend from 0.8124 and a breakdown below 0.7624 support could trigger another fall towards 0.7535 support level. Resistance is at the falling trend line on the daily chart. Only a clear break above the trend line resistance could bring price back into 0.7750 zone.

AUDUSD daily chart