AUDUSD Daily Analysis – January 9, 2020

AUDUSD extended its downside movement from 0.7031 to as low as 0.6848. As long as the price is below the falling trend line on the 4-hour chart, the downside movement could be expected to continue and next target would be at 0.6800 area. On the upside, a clear break above the trend line resistance would indicate that the downside movement is complete, then the pair would find resistance at around 0.6920.

AUDUSD 4-hour chart