AUDUSD Daily Analysis – May 9, 2018

AUDUSD broke below 0.7472 support and extended its downside movement from 0.7813 to as low as 0.7424. Further decline could be expected in a couple of days, and next target would be at 0.7300 area. Key resistance is now at 0.7560, only a breakout of this level could signal completion of the downtrend.

AUDUSD 4-hour chart