AUDUSD Daily Analysis – November 29, 2017

AUDUSD stays in a falling price channel on the 4-hour chart and remains in the downtrend from 0.7897. Near term support is at 0.7580, a breakdown below this level could take price to next support level at 0.7532. Below this level could signal resumption of the downtrend, then next target would be at 0.7450 area. On the upside, a clear break above the channel resistance will suggest that the downtrend had completed at 0.7532 already, then next target would be at 0.7729.

AUDUSD 4-hour chart