AUDUSD Daily Analysis – April 4, 2019

AUDUSD is facing the resistance of the falling trend line on the 4-hour chart. As long as the trend line resistance holds, the bounce from 0.7052 could be treated as consolidation for the downtrend from 0.7168, one more fall towards 0.7000 is still possible after the consolidation. On the upside, a breakout of the trend line resistance would indicate that the downside movement had completed at 0.7052 already, then further rise towards 0.7200 could be seen.

AUDUSD 4-hour chart