AUDUSD Daily Analysis – April 7, 2020

AUDUSD broke above the falling price channel on the 4-hour chart, suggesting that the downside movement from 0.6213 had completed at 0.5979 already. Further rally would likely be seen and next target would be at 0.6213 resistance, a break of this level would aim 0.6400 area. Support is at 0.5979, only break below this level could trigger another fall towards 0.5800.

AUDUSD 4-hour chart