AUDUSD Daily Analysis – January 20, 2020

AUDUSD moved sideways in a trading range between 0.6848 and 0.6933. As long as 0.6933 resistance holds, the price action in the range could be treated as consolidation for the downtrend from 0.7031, further decline to 0.6800 area is possible after the consolidation. Near term resistance is at 0.6910, only a break above this level could take the price to 0.6960 area.

AUDUSD 4-hour chart