AUDUSD Daily Analysis – May 28, 2018

AUDUSD moved sideways in a trading range between 0.7522 and 0.7605. As long as 0.7522 support holds, the sideways movement could be treated as consolidation for the uptrend from 0.7412, and one more rise towards 0.7700 is still possible after the consolidation. On the downside, a breakdown below 0.7522 support would suggest that the upside movement had completed at 0.7605 already, then another fall towards 0.7400 could be seen.

AUDUSD 4-hour chart