AUDUSD Daily Analysis – June 5, 2017

AUDUSD is facing the resistance of the bearish trend line on the 4-hour chart. A clear break of the trend line resistance will indicating that the downside movement from 0.7517 had completed at 0.7371 already, then the following bullish movement could bring price to the next resistance level at 0.7517. On the downside, as long as the pair is below the trend line, the downtrend could be expected to continue and further decline to test 0.7328 support is still possible.

AUDUSD 4-hour chart