AUDUSD Daily Analysis – October 6, 2016

AUDUSD is facing 0.7589 support, a breakdown below this level will indicate that the uptrend from 0.7441 had completed at 0.7710 already, then the following downward movement could bring price to 0.7300 zone. On the upside, as long as 0.7589 support holds, the fall from 0.7710 would possibly be consolidation of the uptrend, further rise to 0.7900 area is still possible after consolidation.

audusd chart