AUDUSD Daily Analysis – May 22, 2020

AUDUSD remains in the uptrend from 0.6401, the pullback from 0.6615 is likely consolidation for the uptrend. As long as 0.6500 support holds, the upside movement could be expected to continue and next target would be at 0.6700 area. On the downside, a breakdown below 0.6500 support would indicate that the upside movement had completed at 0.6615 already, then another fall towards 0.6400 could be seen.

AUDUSD 4-hour chart