AUDUSD Daily Analysis – April 20, 2020

AUDUSD moved sideways in a trading range between 0.6263 and 0.6444. As long as 0.6263 support holds, the sideways movement could be treated as consolidation for the uptrend from 0.5507, and further rise towards 0.6600 is possible after the consolidation. On the downside, a breakdown below 0.6263 support would indicate that the upside movement had completed at 0.6444 already, then deeper decline to 0.6150 area could be seen.

AUDUSD 4-hour chart