AUDUSD Daily Analysis – Wednesday, Dec. 5

AUDUSD broke below the bullish trend line on the 4-hour chart, suggesting that the upside movement from 0.7199 had completed at 0.7393 already.

Further decline could be expected and next target would be at 0.7260, followed by 0.7200. Resistance is at 0.7355, only a break of this level could trigger another rise towards 0.7450.

AUDUSD 4-hour chart

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