AUDUSD Daily Analysis – November 8, 2019

AUDUSD stays in a rising price channel on the 4-hour chart and remains in the uptrend from 0.6670. As long as the channel support holds, the pullback from 0.6929 could be treated as consolidation for the uptrend, and further rise to 0.6950 area is still possible after the consolidation. Key support is at 0.6861, a breakdown below this level would indicate that the upside movement had completed at 0.6929 already, then the pair would find next support at around 0.6800.

AUDUSD 4-hour chart