AUDUSD Daily Analysis – May 1, 2017

AUDUSD remains in downtrend from 0.7610, the rise from 0.7439 is likely consolidation of the downtrend. Resistance is at 0.7540, as long as this level holds, the downward movement could be expected to continue, and next target would be at 0.7400 area. Only break above 0.7540 resistance could signal completion of the downtrend.

AUDUSD chart