AUDUSD Daily Analysis – Wednesday, Dec. 19

AUDUSD remains in the downtrend from 0.7393, the price action from 0.7178 could be treated as consolidation for the downtrend.

As long as 0.7246 resistance holds, the downtrend could be expected to resume and a breakdown below 0.7151 support could trigger further downside movement towards 0.7100.

Only a break of 0.7246 resistance could signal completion of the downtrend.

AUDUSD 4-hour chart

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