AUDUSD Daily Analysis – April 24, 2020

AUDUSD moved sideways in a trading range between 0.6253 and 0.6444. As long as the price is in the rising channel on the 4-hour chart, the sideways movement could be treated as consolidation for the uptrend from 0.5507, and further rise towards 0.6600 area is possible after the consolidation. Key support is at 0.6253, only a breakdown below this level could bring the price back to 0.6000 area.

AUDUSD 4-hour chart