AUDUSD Weekly Analysis – January 26, 2020

AUDUSD extended its downside movement from 0.7031 to as low as 0.6817. As long as the price is below the falling trend line on the daily chart, the downside movement could be expected to continue and next target would be at 0.6700 area. On the upside, a breakout of the trend line resistance would indicate that the downtrend is complete, then another rise towards 0.7000 could be seen.

AUDUSD daily chart