AUDUSD Weekly Analysis – May 17, 2020

AUDUSD remains in the uptrend from 0.5507, the pullback from 0.6569 is likely consolidation for the uptrend. As long as 0.6250 support holds, the upside movement could be expected to resume and further rise to 0.6900 area is possible. On the downside, a breakdown below 0.6250 support would indicate that the upside movement had completed at 0.6569 already, then another fall towards 0.5500 could be seen.

AUDUSD daily chart