AUDUSD Weekly Analysis – June 3, 2018

AUDUSD is in consolidation for the downtrend from 0.8135. Range trading between 0.7412 and 0.7650 would likely be seen in a couple of weeks. The key resistance is at the falling trend line on the daily chart. As long as the trend line resistance holds, the downtrend could be expected to resume and a breakdown below 0.7412 support could trigger another downside movement towards 0.7300. Only a breakout of the trend line resistance could signal completion of the downtrend.

AUDUSD daily chart