AUDUSD Daily Analysis – November 16, 2017

AUDUSD stays below a bearish trend line on the 4-hour chart and remains in the downtrend from 0.7729. As long as the price is below the trend line, the downtrend could be expected to continue and next target would be at 0.7500 area. On the upside, a clear break above the trend line resistance will suggest that the downtrend is complete, then further rise towards next resistance level at 0.7645 could be seen. Above this level would aim 0.7700 area.

AUDUSD 4-hour chart