AUDUSD Daily Analysis – December 8, 2017

AUDUSD extended its downside movement from 0.7653 to as low as 0.7500, breaking below 0.7532 support, suggesting that the downtrend from 0.8124 (Sep 8 high) has resumed. Further decline would likely be seen in the coming days and next target would be at 0.7475 area. Below this level could take price to next support level at 0.7328 (May 9 low). Near term resistance is at 0.7545, only break above this level could bring price back towards 0.7653 resistance.

AUDUSD 4-hour chart