AUDUSD Daily Analysis – May 1, 2018

AUDUSD extended its downside movement from 0.7813 to as low as 0.7525. As long as 0.7588 resistance holds, the downtrend could be expected to continue and next target would be at 0.7500, followed by 0.7350. Only a breakout of 0.7588 resistance could signal completion of the downtrend.

AUDUSD 4-hour chart