AUDUSD Weekly Analysis – April 8, 2017

AUDUSD is facing 0.7490 support, a breakdown below this level will indicate that the upward movement from 0.7158 had completed at 0.7749 already, then the following downward movement could bring price to 0.7000 area. On the upside, as long as the pair is above 0.7490 support, the price action from 0.7740 would possibly be consolidation of the uptrend from 0.7158, and further rise to 0.8000 area is still possible.

AUDUSD chart