AUDUSD Weekly Analysis – April 30, 2017

AUDUSD broke below 0.7472 support, indicating that the uptrend from 0.7158 had completed at 0.7749 already. Deeper decline could be expected over the next several weeks, and next target would be at 0.7300 area. Resistance is at the descending trend line on daily chart, as long as the pair is below the trend line, the downtrend will continue.

AUDUSD chart