AUDUSD Daily Analysis – April 29, 2019

AUDUSD is facing the resistance of the falling trend line on the 4-hour chart. A clear break above the trend line resistance would indicate that the downtrend from 0.7205 had completed at 0.6988 already, then another rise towards 0.7150 could be seen. However, as long as the trend line resistance holds, the bounce from 0.6988 could be treated as consolidation for the downtrend, further decline to 0.6950 area is still possible after the consolidation.

AUDUSD 4-hour chart