AUDUSD Weekly Analysis – January 30, 2016

AUDUSD broke above 0.7050 resistance, indicating that lengthier consolidation for the long term downtrend from 0.9504 (Jul 1, 2014 high) is needed. Further rally to 0.7200 area is possible next week. However, as long as 0.7439 key resistance holds, one more fall to 0.6500 area to complete that long term downtrend is still possible.

audusd chart