AUDUSD Daily Analysis – July 23, 2019

AUDUSD broke below the rising price channel on the 4-hour chart, suggesting that the upside movement from 0.6910 had completed at 0.7081 already. Deeper decline could be expected over the next several days and next target would be at 0.7000, followed by 0.6930. Near term resistance is at 0.7060, only a break of this level could trigger another rise towards 0.7150.

AUDUSD 4-hour chart