AUDUSD Daily Analysis – April 13, 2020

AUDUSD extended its upside movement from 0.5979 to as high as 0.6367. As long as the price is above the rising trend line on the 4-hour chart, the upside movement could be expected to continue and next target would be at 0.6500 area. On the downside, a breakdown below the trend line support would indicate that the upside movement is complete, then the pair would find support at around 0.6150.

AUDUSD 4-hour chart