AUDUSD Daily Analysis – November 15, 2019

AUDUSD’s downside movement from 0.6929 extended to as low as 0.6769. As long as the price is in the falling channel on the 4-hour chart, the downside movement could be expected to continue and next target would be at 0.6700 area. On the upside, a breakout of the channel resistance would indicate that the downside movement had completed at 0.6769 already, then the pair would find resistance at around 0.6850.

AUDUSD 4-hour chart