AUDUSD Daily Analysis – June 7, 2018

AUDUSD extended its upside movement from 0.7476 to as high as 0.7676. Near term support is now at 0.7594. As long as this level holds, the upside movement could be expected to continue and next target would be at 0.7750 area. On the downside, a breakdown below 0.7594 support would suggest that the upside movement had completed at 0.7676 already, then further decline towards the bullish trend line on the 4-hour chart could be seen.

AUDUSD 4-hour chart