AUD/USD Weekly Analysis – Friday, May 11

AUD/USD is facing 0.7560 resistance. A breakout of this level would confirm that the downside movement from 0.7813 had completed at 0.7412 already, then next target would be at 0.7700 area. On the downside, as long as 0.7560 resistance holds, the bounce from 0.7412 would possibly be consolidation for the downtrend, and another fall towards 0.7300 area is still possible.

AUDUSD 4-hour chart

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