AUDUSD Daily Analysis – June 2, 2017

AUDUSD broke below 0.7416 support and continued its short term bearish movement from 0.7517. Further decline to test 0.7328 support is possible in a couple days, a break through this level could take price to next support level at around 0.7250. Resistance is located at the falling trend line on the 4-hour chart, only a clear break above the trend line resistance could signal completion of the downtrend.

AUDUSD 4-hour chart