AUDUSD Weekly Analysis – January 12, 2020

AUDUSD broke below the rising trend line on the daily chart, suggesting that the upside movement from 0.6754 had completed at 0.7031 already. Further decline would likely be seen in a couple of weeks and next target would be at 0.6700 area. Near term resistance is at 0.6970, only break above this level could trigger another rise towards 0.7100.

AUDUSD daily chart