AUD/USD Daily Analysis – Tuesday, Dec. 11

AUD/USD moved sideways in a trading range between 0.7178 and 0.7241. As long as 0.7241 resistance holds, the bounce from 0.7178 could be treated as consolidation for the downtrend from 0.7393, further decline could be expected after the consolidation and next target would be at 0.7100 area. On the upside, a break of 0.7241 would indicate that the downtrend had completed at 0.7178 already, then further rally to 0.7300 area could be seen.

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.