AUDUSD Weekly Analysis – April 5, 2020

AUDUSD rebounded strongly from 0.5507, suggesting that the downside movement from 0.7031 had completed. Further rally would likely be seen and a breakout of 0.6213 resistance could trigger further upside movement towards the falling trend line on the daily chart. Near term support is at 0.5950, a breakdown below this level could bring the price back to 0.5800 zone.

AUDUSD daily chart