AUDUSD Daily Analysis – June 15, 2020

AUDUSD is testing that support of the rising trend line on the 4-hour chart. A breakdown below the trend line support would confirm that the upside movement from 0.6401 had completed at 0.7063 already, then the pair would find next support level at around 0.6500. However, as long as the trend line support holds, the pullback from 0.7063 could be treated as consolidation for the uptrend, and one more rise towards 0.7100 is still possible after the consolidation.

AUDUSD 4-hour chart