AUDUSD Daily Analysis – January 7, 2019

AUDUSD broke above the bearish trend line on the 4-hour chart, suggesting that the downside movement from 0.7393 had completed at 0.6765. Further rally is still possible and next target would be at 0.7300 area. Support is at 0.7060, below this level could bring the price back to 0.6900 area.

AUDUSD 4-hour chart