AUDUSD Daily Analysis – February 4, 2020

AUDUSD broke above the top of the price channel on the 4-hour chart, suggesting that consolidation for the downtrend from 0.7031 is underway. Further rally would likely be seen and the target would be at 0.6780 area. Support is at 0.6678, only a breakdown below this level could trigger another fall towards 0.6600.

AUDUSD 4-hour chart