AUDUSD Daily Analysis – June 6, 2018

AUDUSD remains in the uptrend from 0.7476, the fall from 0.7666 is likely consolidation for the uptrend. Support is at 0.7580, as long as this level holds, the upside movement could be expected to continue and next target would be at 0.7700 area. On the downside, a breakdown below 0.7580 support would suggest that the upside move had completed at 0.7666 already, then further decline towards the bullish trend line on the 4-hour chart could be seen.

AUDUSD 4-hour chart