AUDUSD Daily Analysis – September 14, 2017

AUDUSD extended its fall from 0.8124 to as low as 0.7970, facing the bottom support trend line of the price channel on the 4-hour chart. As long as the price is in the channel, the fall could be treated as consolidation of the uptrend from 0.7807 and another rise towards 0.8162 could be expected after the consolidation. On the downside, a clear break below the channel support will indicate that the uptrend had completed at 0.8124 already, then the following downside movement could bring price back to test 0.7807 support.

AUDUSD 4-hour chart