AUDUSD Weekly Analysis – May 27, 2018

AUDUSD stays below a falling trend line on the daily chart and remains in the downtrend from 0.8135. As long as the trend line resistance holds, the bounce from 0.7412 could be treated as consolidation for the downtrend. Another fall could be expected after the consolidation and next target would be at 0.7150 area. Only a clear break above the trend line resistance could signal completion of the downtrend.

AUDUSD daily chart