AUDUSD Daily Analysis – April 6, 2017

AUDUSD continued its downward movement from 0.7679 and the fall extended to as low as 0.7532. Further decline to test 0.7490 support is possible in a couple of days. Near term resistance is at the downward trend line on 4-hour chart, as long as the trend line resistance holds, the downtrend will continue. Key resistance is at 0.7590, only break above this level could signal completion of the downtrend.

AUDUSD chart