AUDUSD Daily Analysis – October 6, 2017

AUDUSD broke below 0.7785 support and extended its downside movement from 0.8102 to as low as 0.7772. Key resistance is now at 0.7875, as long as this level holds, the bearish movement could be expected to continue and next target would be at the resistance-turned-support trend line on the weekly chart now at 0.7700. Only break above 0.7875 resistance could signal completion of the downtrend.

AUDUSD 4-hour chart