AUDUSD Daily Analysis – May 19, 2020

AUDUSD continued its sideways movement in a trading range between 0.6372 and 0.6569. The price action in the range is likely consolidation for the uptrend from 0.5507 (Mar 19 low), a breakout of 0.6569 resistance could take the price to 0.6700 zone. Near term support is at 0.6500, a breakdown below this level could trigger another fall towards 0.6372 support.

AUDUSD 4-hour chart