AUDUSD Weekly Analysis – Sunday, Oct. 28


AUDUSD extended its downside movement from 0.8135 to as low as 0.7020.

As long as the price is below the bearish trend line on the daily chart, a further decline could be expected and the next target would be at the 0.6900 area.

Near term resistance is at 0.7159; a breakout of this level could bring the price back towards the bearish trend line.

AUDUSD daily chart

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