AUDUSD Daily Analysis – October 16, 2019

AUDUSD broke below the rising trend line on the 4-hour chart, suggesting that the upside movement from 0.6670 had completed at 0.6810 already. Deeper decline could be expected and next target would be at 0.6650 area. Near term resistance is at 0.6755, only break above this level could trigger another rise towards 0.6800.

AUDUSD 4-hour chart