AUDUSD Daily Analysis – April 5, 2019

AUDUSD is testing the resistance of the falling trend line on the 4-hour chart. As long as the price is below the trend line, the bounce from 0.7052 could be treated as consolidation for the downtrend from 0.7168, further decline towards 0.7000 could be expected after the consolidation. Only break above the trend line resistance would indicate that the downside movement had completed at 0.7052 already, then another rise towards 0.7200 could be seen.

AUDUSD 4-hour chart