AUDUSD Daily Analysis – Wednesday, Oct. 3

AUDUSD extended its downside movement from 0.7314 to as low as 0.7162. Resistance is at the falling trend line on the 4-hour chart.

As long as the trend line resistance holds, the downside movement could be expected to continue and next target would be at 0.7100 area. Only a clear break above the trend line resistance could signal completion of the downtrend.

AUDUSD 4-hour chart

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