AUDUSD Daily Analysis – January 7, 2020

AUDUSD is facing the support of the bullish trend line on the 4-hour chart. As long as the trend line support holds, the fall from 0.7031 could be treated as corrective consolidation for the uptrend from 0.6754, a breakout of 0.6970 resistance could trigger another rise towards 0.7000. on the downside, a clear break below the trend line support would indicate that the upside movement had completed at 0.7031 already, then further decline to 0.6850 area could be seen.

AUDUSD 4-hour chart