AUDUSD Daily Analysis – Wednesday, Sept. 27

Analyst and Forex Trader • Sep 27, 2017 at 12:22 PM EDT

AUDUSD extended its downside movement from 0.8124 to as low as 0.7859. Deeper decline to test 0.7807 support would likely be seen in a couple of days.

AUDUSD extended its downside movement from 0.8124 to as low as 0.7859. Deeper decline to test 0.7807 support would likely be seen in a couple of days. Below this level could confirm that the uptrend from 0.7328 (May 9 low) had completed at 0.8124 already, then the pair would find next support at the resistance-turned-support trend line on the weekly chart now at around 0.7700.

On the upside, as long as 0.7807 support holds, another rise towards 0.8162 resistance is still possible. Near-term resistance is now at 0.7986, above this level could trigger another rise to test 0.8124 resistance.

AUDUSD 4-hour chart

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