AUDUSD Weekly Analysis – January 8, 2017

AUDUSD stays below the downward trend line on daily chart, and remains in downtrend from 0.7778. As long as the trend line resistance holds, the rise from 0.7158 could be treated as consolidation of the downtrend. Further decline is still possible after consolidation and next target would be at 0.6900 area.

audusd chart