AUDUSD Daily Analysis – Monday, Dec. 31

AUDUSD moved sideways in a narrow range between 0.7016 and 0.7077.

The price action in the range is likely consolidation for the downtrend from 0.7246. Another fall could be expected after the consolidation and next target would be at 0.6950 area.

Resistance is at 0.7077, only a break of this level could bring the price back towards 0.7120.

AUDUSD 4-hour chart

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