AUDUSD Weekly Analysis – January 28, 2018

AUDUSD extended its upside movement from 0.7501 to as high as 0.8135, breaking above 0.8124 resistance. Further rise is still possible after a minor consolidation and next target would be at 0.8250 area. The key support is at 0.7956, only a breakdown below this level will indicate that the upside movement is complete, then the following downside move could bring price back towards 0.7800, followed by 0.7600.

AUDUSD daily chart