AUDUSD Daily Analysis – November 21, 2017

AUDUSD extended its downside movement from 0.7729 to as low as 0.7532. As long as the price is below the bearish trend line on the 4-hour chart, the downside movement could be expected to continue and next target would be at 0.7450 area. On the upside, a breakout of the trend line resistance could bring price back to next resistance level at 0.7610. Above this level could signal completion of the downtrend, then next target would be at 0.7650 area.

AUDUSD 4-hour chart