AUDUSD Daily Analysis – June 5, 2020

AUDUSD is in consolidation for the uptrend from 0.6401. Range trading between 0.6856 and 0.6987 would likely be seen. As long as 0.6856 support holds, the upside movement could be expected to continue and next target would be at 0.7100 area. On the downside, a breakdown below 0.6856 support would indicate that the upside movement had completed at 0.6987 already, then the pair would find support at the rising trend line on the 4-hour chart.

AUDUSD 4-hour chart