AUDUSD Daily Analysis – January 30, 2018

AUDUSD stays above a bullish trend line on its 4-hour chart and remains in the uptrend from 0.7501. As long as the trend line support holds, the fall from 0.8135 could be treated as consolidation of the uptrend and a breakout of 0.8135 resistance could trigger another rise towards 0.8200. Near term support is at 0.8055. A breakdown below this level could bring price back towards the trend line. Only a clear break below the trend line support could signal completion of the uptrend.

AUDUSD 4-hour chart