AUDUSD Weekly Analysis – June 5, 2016

AUDUSD remains in downtrend from 0.7834, the rise from 0.7144 is likely correction of the downtrend. Range trading between 0.7144 and 0.7550 would likely be seen over the next several weeks. As long as 0.7550 resistance holds, the downtrend could be expected to resume, and another fall to test 0.6826 previous low support is possible.

audusd chart