AUDUSD Daily Analysis – December 13, 2018

AUDUSD continued its sideways movement in a trading range between 0.7178 and 0.7241. As long as 0.7241 resistance holds, the downtrend from 0.7393 could be expected to resume and further decline towards 0.7100 is still possible after consolidation. On the upside, a break of 0.7241 resistance would indicate that the downside movement had completed at 0.7178 already, then further rally to 0.7300 area could be seen.

AUDUSD 4-hour chart