AUDUSD broke below 0.6990 support, suggesting that the upside movement from 0.6838 had completed at 0.7031 already. Further decline could be expected after a minor consolidation and the target would be at the rising trend line on the 4-hour chart. Near term resistance is at 0.6990, above this level could trigger another rise towards 0.7100.
![AUDUSD 4-hour chart](https://www.forexcycle.com/wp-content/uploads/2020/20200103_AUDUSD_1.png)