AUDUSD Daily Analysis – November 13, 2017

AUDUSD stays in a trading range between 0.7624 and 0.7729. As long as 0.7729 resistance holds, the sideways movement could be treated as consolidation of the downtrend from 0.7897, and a breakdown below 0.7624 support could trigger further downside movement into 0.7500 zone. Near term resistance is at 0.7700, followed by 0.7729, only breakout of these levels could signal completion of the downtrend, then next target would be at 0.7800 area.

AUDUSD 4-hour chart