AUDUSD Daily Analysis – February 2, 2018

AUDUSD broke below the bullish trend line on the 4-hour chart. Deeper decline to test 0.7956 support is possible in the coming days. A breakdown below this level will confirm that the uptrend from 0.7501 (Dec 8, 2017 low) had completed at 0.8135 already, then the pair would find next support at 0.7800 area. Near term resistance is at 0.8050, only break above this level could take price to test 0.8135 resistance.

AUDUSD 4-hour chart