AUDUSD Daily Analysis – Thursday, June 14

AUDUSD extended its downside movement from 0.7676 to as low as 0.7529, facing the support of the rising trend line on the 4-hour chart.

As long as the trend line support holds, the downside movement could be treated as consolidation for the uptrend from 0.7412 and another rise towards 0.7750 is still possible after the consolidation. Near-term resistance is at 0.7623, a breakout of this level could signal resumption of the uptrend.

AUDUSD 4-hour chart

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