AUDUSD Daily Analysis – January 22, 2020

AUDUSD extended its downside movement from 0.6933 to as low as 0.6826, breaking below 0.6848 support. 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 breakout of the trend line resistance would indicate that the downside movement is complete, then another rise towards 0.6900 could be seen.

AUDUSD 4-hour chart