AUDUSD Daily Analysis – January 6, 2020

AUDUSD extended its downside movement from 0.7031 to as low as 0.6930. Further decline is still possible after a minor consolidation and the target would be at the rising trend line on the 4-hour chart. Near term resistance is at 0.6970, above this level could bring the price back towards 0.7000.

AUDUSD 4-hour chart