AUDUSD Daily Analysis – May 17, 2019

AUDUSD extended its downside movement from 0.7068 to as low as 0.6886. Further decline is still possible after a minor consolidation and next target would be at 0.6850 area. Near term resistance is at 0.6940, only break above this level could bring the price back towards the falling trend line on the 4-hour chart.

AUDUSD 4-hour chart