AUDUSD Weekly Analysis – September 22, 2019

AUDUSD stays below a falling trend line on the daily chart and remains in the downtrend from 0.7295. As long as the trend line resistance holds, the bounce from 0.6677 could be treated as consolidation for the downtrend, further decline to 0.6600 area is still possible after the consolidation. Near term resistance is at 0.6894, above this level could bring the price back towards the trend line.

AUDUSD daily chart