AUDUSD Weekly Analysis – May 20, 2017

AUDUSD is facing the resistance of the descending trend line on daily chart. A clear break above the trend line will indicate that the bearish movement from 0.7749 had completed at 0.7328 already, then further rally to 0.7700 area could be seen. On the downside, as long as the pair is below the trend line, the bearish movement could be expected to continue, and next target would be at 0.7250 area.

AUDUSD chart