AUDUSD Daily Analysis – December 11, 2018

AUDUSD moved sideways in a trading range between 0.7178 and 0.7241. As long as 0.7241 resistance holds, the bounce from 0.7178 could be treated as consolidation for the downtrend from 0.7393, further decline could be expected after the consolidation and next target would be at 0.7100 area. On the upside, a break of 0.7241 would indicate that the downtrend had completed at 0.7178 already, then further rally to 0.7300 area could be seen.

AUDUSD 4-hour chart