AUDUSD Weekly Analysis – January 10, 2016

AUDUSD is facing 0.6907 support, a breakdown below this level will indicate that the long term downtrend from 0.9504 (Jul 1, 2014 high) has resumed, then the following downward movement could bring price to 0.6500 area. On the other side, as long as 0.6907 support holds, the sideways movement in the range between 0.6907 and 0.7439 could be expected to continue.

audusd chart