AUDUSD Weekly Analysis – April 15, 2018

AUDUSD is facing the resistance of the falling trend line on the daily chart. As long as the trend line resistance holds, the bounce from 0.7642 could be treated as consolidation for the downtrend from 0.8135 and another fall towards 0.7500 is possible after the consolidation. However, a clear break above the trend line resistance would indicate that the downside movement had completed at 0.7642 already, then another rise towards 0.8000 could be seen.