AUDUSD Daily Analysis – February 9, 2018

AUDUSD’s downside movement from 0.8135 extended to as low as 0.7759. Further decline is still possible after a minor consolidation and next target would be at 0.7700 area. Near term resistance is at the top trend line of the price channel on the 4-hour chart and the key resistance is at 0.7910, only break above this level could signal completion of the downtrend.

AUDUSD 4-hour chart