AUDUSD Daily Analysis – May 16, 2019

AUDUSD’s downside movement from 0.7068 to as low as 0.6892. Further decline could be expected after a minor consolidation and next target would be at 0.6850 area. Near term resistance is at 0.6940, a break of this level could bring the price back towards the falling trend line on the 4-hour chart.

AUDUSD 4-hour chart