AUDUSD Daily Analysis – October 17, 2019

AUDUSD stays below a falling trend line on the 4-hour chart and remains in the downtrend from 0.6810. As long as the trend line resistance holds, the downtrend could be expected to continue and next target would be at 0.6700 area. On the upside, a clear break above the trend line resistance would indicate that the downtrend had completed at 0.6723 already, then another rise towards 0.6850 could be seen.

AUDUSD 4-hour chart