AUDUSD Weekly Analysis – September 27, 2020

AUDUSD broke below the rising price channel on the daily chart, suggesting that the upside movement from 0.5507 had completed at 0.7413 already. Further decline could be expected in a couple of weeks and next target would be at 0.6800 area. Near term resistance is at 0.7200, a breakout of this level could trigger another rise towards 0.7600.

AUDUSD daily chart