AUDUSD Daily Analysis – July 2, 2019

AUDUSD broke below the bottom of the price channel on the 4-hour chart, suggesting that the upside movement from 0.6831 had completed at 0.7034 already. Further decline is still possible after a minor consolidation and next target would be at 0.6920 area. Near term resistance is at 0.6980, above this level could bring the price back into 0.7000 zone.

AUDUSD 4-hour chart