AUDUSD Daily Analysis – Tuesday, May 15

AUDUSD broke above 0.7560 resistance, suggesting that the downside movement from 0.7813 had completed at 0.7412 already.

Further rise is still possible after a corrective consolidation and next target would be at 0.7650 area. Support levels are at 0.7490 and 0.7450, only break below these levels could trigger another downside movement towards 0.7300.

AUDUSD 4-hour chart

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