AUDUSD Daily Analysis – December 19, 2017

No changed in our view, AUDUSD remains in the uptrend from 0.7501, the pullback from 0.7694 could be treated as consolidation of the uptrend. Range trading between 0.7580 and 0.7694 would likely be seen in a couple of days. As long as 0.7580 support holds, the uptrend could be expected to resume and another rise is still possible after the consolidation. Resistance is at 0.7694, a breakout of this level could take price to next resistance level at 0.7729. Above this level would aim 0.7800 area. On the downside, a breakdown below 0.7580 support could bring price back to test 0.7501 support. Below here will indicate that the downtrend from 0.8124 (Sep 8 high) has resumed, then deeper decline towards 0.7328 could be seen.

AUDUSD 4-hour chart