AUDUSD Daily Analysis – November 21, 2019

AUDUSD failed to break above 0.6840 resistance and stays in a trading range between 0.6769 and 0.6840. As long as 0.6840 resistance holds, the price action in the range could be treated as consolidation for the downtrend from 0.6929, further decline towards 0.6700 is possible after the consolidation. On the upside, a break of 0.6840 resistance would indicate that the downtrend had completed at 0.6769 already, then the following upside movement could take the price to 0.6900 area.

AUDUSD 4-hour chart