AUDUSD Daily Analysis – April 16, 2020

AUDUSD broke below the bullish trend line on the 4-hour chart, suggesting that the upside movement from 0.5979 had completed at 0.6444 already. Deeper decline would likely be seen in a couple of days and next target would be at 1.6150 area. Near term resistance is at 0.6350, a break of this level could trigger another rise towards 0.6600.

AUDUSD 4-hour chart