AUDUSD Daily Analysis – April 23, 2020

AUDUSD failed to break below the bottom of the price channel on the 4-hour chart and rebounded from 0.6253, suggesting that the pair remains in the uptrend from 0.5507, and the pullback from 0.6444 could be treated as consolidation for the uptrend. As long as the channel support holds, the uptrend could be expected to resume and further rise towards 0.6600 area is possible after the consolidation. Key support is at 0.6253, only break below this level could signal completion of the uptrend.

AUDUSD 4-hour chart