AUDUSD Daily Analysis – May 15, 2019

AUDUSD extended its downside movement from 0.7205 to as low as 0.6921. Further decline is still possible and next target would be at 0.6900 area. Near term resistance is at 0.6960, a break of this level could bring the price back towards the falling trend line on the 4-hour chart.

AUDUSD 4-hour chart