AUDUSD Daily Analysis – October 23, 2017

AUDUSD broke below the rising trend line on the 4-hour chart, indicating that the short term uptrend from 0.7732 had completed at 0.7897 already. Further decline could be expected in the coming days and next target would be at 0.7732 previous low, followed by the resistance-turned-support trend line on the weekly chart. Resistance levels are at 0.7860 and 0.7897, only break above these levels could trigger another rise towards 0.7986.

AUDUSD 4-hour chart