AUDUSD Weekly Analysis – October 20, 2019

AUDUSD’s bounce from 0.6670 extended to as high as 0.6856. Further rally would likely be seen next week and the target would be at the falling trend line on the daily chart. However, as long as the trend line resistance holds, the bounce would possibly be consolidation for the downtrend from 0.7295, another fall towards 0.6600 could be expected after the consolidation.

AUDUSD daily chart