AUDUSD Daily Analysis – October 1, 2019

AUDUSD moved sideways in a narrow rang between 0.6738 and 0.6780. As long as 0.6780 resistance holds, the sideways movement could be treated as consolidation for the downtrend from 0.6894, further decline to 0.66700 area is still possible after the consolidation. On the other side, a breakout of 0.6780 resistance would indicate that the downside movement had completed at 0.6738 already, then the following upside move could take the price to 0.6900 area.

AUDUSD 4-hour chart