AUDUSD Daily Analysis – May 30, 2019

AUDUSD is testing 0.6934 key resistance. A breakout of this level could take the price to 0.7000 area. On the downside, as long as 0.6934 resistance 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 is still possible after the consolidation.

AUDUSD 4-hour chart