AUDUSD Daily Analysis – February 3, 2020

AUDUSD stays in a bearish price channel on the 4-hour chart and remains in the downtrend from 0.6933. As long as the channel resistance holds, the downside movement could be expected to continue and next target would be at 0.6650 area. On the other side, a break of the channel resistance would indicate that the downside movement had completed at 0.6682 already, then the pair would find resistance at around 0.6800.

AUDUSD 4-hour chart