AUDUSD Daily Analysis – May 6, 2020

AUDUSD remains in the downtrend from 0.6569. As long as 0.6500 resistance holds, the downside movement could be expected to continue and next target would be at 0.6250 area. On the upside, a breakout of 0.6500 resistance would indicate that the uptrend from 0.5507 has resumed, then another rise towards 0.6600 could be seen.

AUDUSD 4-hour chart