AUDUSD Daily Analysis – May 4, 2018

2018-05-04

AUDUSD broke above the falling trend line on its 4-hour chart, suggesting that the downtrend from 0.7813 had completed at 0.7472 already. Further rally would likely be seen in the coming days and the target would be at 0.7650 area. Support is at 0.7472, only a breakdown below this level could trigger another fall towards 0.7300.