AUDUSD Daily Analysis – October 3, 2019

AUDUSD stays below a bearish trend line on the 4-hour chart and remains in the downtrend from 0.6894. As long as the trend line resistance holds, the downside movement could be expected to continue and next target would be at 0.6600 area. Near term resistance is at 0.6720, above this level could bring the price back towards the trend line.

AUDUSD 4-hour chart