AUDUSD Daily Analysis – February 7, 2020

AUDUSD failed to break above 0.6777 resistance and moved sideways in a trading range between 0.6678 and 0.6777. As long as 0.6777 resistance holds, the price action in the range could be treated as consolidation for the downtrend from 0.7031, further decline to 0.6600 area is possible after the consolidation.

AUDUSD 4-hour chart