AUDUSD Weekly Analysis – October 14, 2018

AUDUSD stays below a bearish trend line on the daily chart and remains in the downtrend from 0.8135. As long as the trend line resistance holds, the bounce from 0.7041 could be treated as consolidation for the downtrend, and further decline towards 0.6900 is still possible after the consolidation. Only a clear break above the trend line resistance could signal completion of the downtrend.

AUDUSD daily chart