AUDUSD Daily Analysis – May 29, 2019

AUDUSD is facing the key resistance at 0.6934. As long as this level holds, the sideways movement between 0.6864 and 0.6934 could be treated as consolidation for the downtrend from 0.7205, further decline to 0.6800 area is still possible after the consolidation. Key resistance is at 0.6960, only break above this level could signal completion of the downtrend.

AUDUSD 4-hour chart