AUDUSD Daily Analysis – December 1, 2016

AUDUSD’s upward movement from 0.7310 had completed at 0.7497 already. The subsequent fall is likely resumption of the downtrend from 0.7778. Further decline to test 0.7310 is possible in a couple of days, a breakdown below this level will confirm that the downtrend has resumed, then next target would be at 0.7200 zone.

audusd chart