AUDUSD Daily Analysis – May 31, 2017

AUDUSD broke above 0.7465 resistance, indicating that the downward movement from 0.7517 had completed at 0.7416 already. Further rally to test 0.7517 resistance could be expected in a couple of days, a break though this level could take price to next resistance level of 0.7560. Support is at 0.7416, only a breakdown below this level could trigger another fall towards 0.7350.

AUDUSD 4-hour chart