AUD/USD Daily Analysis – Monday, Dec. 10

AUD/USD extended its downside movement from 0.7393 to as low as 0.7178. Further decline is still possible and next target would be at 0.7100 area. Near term resistance is at 0.7241, a break of this level would indicate that corrective consolidation for the downtrend is underway, then further rally towards 0.7300 could be seen.

AUDUSD 4-hour chart

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