AUDUSD Daily Analysis – October 8, 2018

AUDUSD extended its downside movement from 0.7314 to as low as 0.7042. Further decline is still possible after a minor consolidation and next target would be at 0.6950 area. Near term resistance is at 0.7100, only a breakout of this level could bring the price back towards the falling trend line on the 4-hour chart.

AUDUSD 4-hour chart