AUDUSD Weekly Analysis – Sunday, Nov. 11


AUDUSD broke above the bearish trend line on the daily chart, suggesting that the downside movement from 0.8135 had completed at 0.7020 already.

A further rally would likely be seen after a minor consolidation and next target would be at 0.7400 area.

Near term support is at 0.7180 and only a breakdown below this level could bring the price back towards 0.7020.

AUDUSD daily chart

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