AUD/USD Daily Analysis – Monday, Jan. 28

AUD/USD broke above the falling trend line on the 4-hour chart, suggesting that the downside movement had completed at 0.7075 already. Further rally is still possible in the coming days, a break of 0.7235 resistance could take the price to 0.7300 area. Near term support is at 0.7155, a breakdown below this level could bring the price back to 0.7100 area.

AUDUSD 4-hour chart

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