AUDUSD Daily Analysis – May 27, 2019

AUDUSD broke above the top trend line of the price channel on the 4-hour chart, suggesting that consolidation for the downtrend from 0.7205 is underway. Range trading between 0.6864 and 0.6960 would likely be seen in the coming days. As long as 0.6960 resistance holds, the downside movement could be expected to resume, another fall towards 0.6800 is still possible after the consolidation.

AUDUSD 4-hour chart