AUDUSD Daily Analysis – January 8, 2020

AUDUSD broke below the bullish trend line on the 4-hour chart, suggesting that the upside movement from 0.6754 had completed at 0.7031 already. Further decline is still possible after a minor consolidation and next target would be at 0.6800 area. Near term resistance is at 0.6900, as long as this level holds, the downtrend from 0.7031 will continue.

AUDUSD 4-hour chart