AUDUSD Weekly Analysis – Sunday, Sept. 27

AUDUSD broke below the rising price channel on the daily chart, suggesting that the upside movement from 0.5507 had completed at 0.7413 already.

A further decline could be expected in a couple of weeks, and the next target would be at the 0.6800 area. Near term resistance is at 0.7200, and a breakout of this level could trigger another rise towards 0.7600.

AUDUSD daily chart

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