AUDUSD Daily Analysis – July 7, 2017

AUDUSD’s fall from 0.7712 extended to as low as 0.7571. Further decline to test 0.7535 support is possible. As long as 0.7535 support holds, the fall could be treated as consolidation of the uptrend from 0.7328 (May 9 low), and another rise towards 0.8000 is still possible after the consolidation. Near term resistance is at 0.7635, a break above this level could take price to test 0.7712 resistance.

AUDUSD 4-hour chart