AUDUSD Weekly Analysis – June 19, 2016

AUDUSD remains in downtrend from 0.7834, the price action from 0.7144 could be treated as consolidation of the downtrend. Range trading between 0.7144 and 0.7550 could be expected over the next several weeks. As long as 0.7550 resistance holds, the downtrend could be expected to resume, and further decline to test 0.6826 support is still possible.

audusd chart