AUDUSD Weekly Analysis – April 29, 2018

AUDUSD extended its downside movement from 0.8135 to as low as 0.7514. As long as the price is below the falling trend line on the daily chart, the downside movement could be expected to continue and deeper decline to test 0.7500 support is possible. A breakdown below this level could trigger downside movement towards 0.7350. Only a clear break above the trend line resistance could signal completion of the downtrend.

AUDUSD daily chart