AUDUSD Weekly Analysis – February 4, 2018

AUDUSD dropped sharply from 0.8135 after breaking above 0.8124 resistance, suggesting that the upside movement from 0.7501 is complete. Further decline could be expected after consolidation and next target would be at 0.7800, followed by 0.7650. Resistance levels are at 0.8000 and 0.8135, only break above these levels could trigger another rise towards 0.8500.

AUDUSD daily chart