AUDUSD is in consolidation of downtrend

AUDUSD is in consolidation of the downtrend from 1.0474. Range trading between 0.9689 and 0.9934 would likely be seen over the next several days. As long as 0.9934 resistance holds, one more fall towards 0.9500 is still possible after consolidation. However, a break above 0.9934 key resistance will indicate that the whole decline from 1.0855 (Feb 29 high) has completed at 0.9689 already, then the following upward move could bring price back to 1.0600 zone.


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