AUDUSD Daily Analysis – June 1, 2020

After consolidation, AUDUSD broke above 0.6680 resistance and extended its upside movement from 0.6401 to as high as 0.6742. As long as the price is above the rising trend line on the 4-hour chart, the upside movement could be expected to continue and next target would be at 0.6850 area. Key support is at 0.6567, only break below this level could trigger another fall towards 0.6372 support.