AUDUSD Weekly Analysis – October 28, 2018

AUDUSD extended its downside movement from 0.8135 to as low as 0.7020. As long as the price is below the bearish trend line on the daily chart, further decline could be expected and next target would be at 0.6900 area. Near term resistance is at 0.7159, a breakout of this level could bring the price back towards the bearish trend line.

AUDUSD daily chart