AUDUSD Daily Analysis – January 29, 2020

AUDUSD stays below a falling trend line on the 4-hour chart and remains in the downtrend from 0.6933. As long as the trend line resistance holds, the bounce from 0.6736 could be treated as consolidation for the downtrend, further decline towards 0.6700 could be expected after the consolidation, only break above the trend line resistance could signal completion of the downtrend.

AUDUSD 4-hour chart