AUDUSD Weekly Analysis – December 17, 2017

AUDUSD broke above the top trend line of the price channel on the daily chart, suggesting that the downtrend from 0.8124 had completed at 0.7501 already. Further rally to test 0.7729 would likely be seen next week, and a break of this level could trigger further upside movement towards 0.7897 resistance. Support levels are at 0.7580 and 0.7501, only break below these levels could take price back towards 0.7328. Below this level would aim 0.7144.

AUDUSD daily chart