AUDUSD Daily Analysis – Wednesday, Oct. 3

AUDUSD extended its downside movement from 0.7314 to as low as 0.7162. Resistance is at the falling trend line on the 4-hour chart.

As long as the trend line resistance holds, the downside movement could be expected to continue and next target would be at 0.7100 area. Only a clear break above the trend line resistance could signal completion of the downtrend.

AUDUSD 4-hour chart

How did you like this article? Let us know so we can better customize your reading experience. Users' ratings are only visible to themselves.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.