AUDUSD Daily Analysis – October 29, 2018

AUDUSD broke above the bearish price channel on the 4-hour chart, suggesting that the short term downtrend from 0.7159 had completed at 0.7020 already. Further rally would likely be seen and next target would be at 0.7150 area. Support is at 0.7020, only a breakdown below this level could trigger another fall towards 0.6900.

AUDUSD 4-hour chart