AUDUSD Daily Analysis – October 28, 2019

AUDUSD stays below a falling trend line on the 4-hour chart and remains in the downtrend from 0.6882. As long as the trend line resistance holds, the downtrend could be expected to continue and next target would be at 0.6760 area. The key resistance is at 0.6835, a break of this level would indicate that the downside movement had completed at 0.6809 already, then another rise towards 0.6900 could be seen.

AUDUSD 4-hour chart