AUDUSD Weekly Analysis – May 14, 2017

AUDUSD remains in downtrend from 0.7749 and the fall extended to as low as 0.7328. Further decline is still possible after a minor consolidation and next target would be at 0.7250 area. Resistance is located at the descending trend line on daily chart, only a clear break of the trend line resistance could signal completion of the downtrend.

AUDUSD chart