AUDUSD Daily Analysis – November 2, 2016

After touching the top of the price channel on 4-hour chart, AUDUSD pulled back from 0.7688, indicating that the pair remains in downtrend from 0.7734. Deeper decline would likely be seen and next target would be at 0.7500 area. Resistance is now at 0.7688, only break above this level could signal completion of the downtrend.

audusd chart