AUDUSD Daily Analysis – May 22, 2018

AUDUSD broke above 0.7566 resistance, suggesting that the downside movement from 0.7813 had completed at 0.7412 already. Further rally could be expected in the coming days and next target would be at 0.7625, followed by 0.7700. Support is now at the rising trend line on the 4-hour chart, only a clear break below the trend line support could trigger another fall towards 0.7300.

AUDUSD 4-hour chart