AUDUSD Weekly Analysis – October 30, 2016

AUDUSD continued its sideways movement in a range between 0.7441 and 0.7755. As long as 0.7441 support holds, the sideways movement could be treated as consolidation of the uptrend from 0.7144, and further rise to 0.8000 area is still possible after consolidation. On the downside, a breakdown below 0.7441 support will indicate that the uptrend had completed at 0.7755 already, then the following downward movement could bring price to 0.6900 zone.

audusd chart