AUDUSD Daily Analysis – December 19, 2016

AUDUSD broke below 0.7310 support, indicating that the downtrend from 0.7778 has resumed. Further decline could be expected after a minor consolidation, and next target would be at 0.7200 area. Resistance is at 0.7380, only break above this level could signal completion of the downtrend.

audusd chart