AUDUSD Weekly Analysis – November 10, 2018

AUDUSD broke above the bearish trend line on the daily chart, suggesting that the downside movement from 0.8135 had completed at 0.7020 already. Further rally would likely be seen after a minor consolidation and next target would be at 0.7400 area. Near term support is at 0.7180, only a breakdown below this level could bring the price back towards 0.7020.

AUDUSD daily chart