AUDUSD Daily Analysis – December 20, 2017

AUDUSD moved sideways in a narrow range between 0.7635 and 0.7694. As long as 0.7635 support holds, the sideways movement could be treated as consolidation of the uptrend from 0.7501 and a breakout of 0.7694 resistance could trigger further upside movement towards 0.7800. On the downside, a breakdown below 0.7635 support could take price back to next support level at 0.7580. Below here would aim 0.7501 previous low.

AUDUSD 4-hour chart