AUDUSD Weekly Analysis – December 1, 2019

AUDUSD moved sideways in a trading range between 0.6670 and 0.6929 for several months. As long as the price is below the falling trend line on the daily chart, the sideways movement could be treated as consolidation for the downtrend from 0.7295, further decline to 0.6500 area is possible after the consolidation. Key resistance is at 0.6929, only break above this level could signal completion of the downtrend.

GBPUSD daily chart