AUDUSD Daily Analysis – May 28, 2019

AUDUSD is testing the resistance at 0.6934, as long as this level holds, the price action in the trading range between 0.6864 and 0.6934 could be treated as consolidation for the downtrend from 0.7205, another fall towards 0.6800 could be expected after the consolidation. Key resistance is at 0.6960, only break above this level could signal completion of the downtrend.

AUDUSD 4-hour chart