AUDUSD Daily Analysis – November 12, 2018

AUDUSD pulled back to 0.7215 area. Deeper decline is still possible and next target would be at bullish trend line on the 4-hour chart. However, as long as the trend line support holds, the pullback could be treated as consolidation for the uptrend from 0.7020 and another rise towards 0.7340 is still possible after the consolidation. Only a clear break below the trend line support could signal completion of the uptrend.

AUDUSD 4-hour chart