AUDUSD Daily Analysis – October 20, 2016

AUDUSD’s upward movement from 0.7506 extended to as high as 0.7734. Further rise is still possible after a minor consolidation, and next target would be at 0.7800 area. Support is at 0.7650, only break below this level will indicate that the uptrend had completed at 0.7734 already, then the following downward movement could bring price back to 0.7550 zone.

audusd chart