AUDUSD Daily Analysis – July 1, 2019

AUDUSD’s upside movement from 0.6831 extended to as high as 0.7034. As long as the price is in the bullish price channel on the 4-hour chart, the upside movement could be expected to continue and next target would be at 0.7050 area. On the downside, a breakdown below the channel support would indicate that the upside movement had completed at 0.7034 already, then the pair would find support at around 0.6940.

AUDUSD 4-hour chart