AUDUSD will likely retrace back to fib .618 level @ 0.75
Following that, depending on the outlook of USD, it will determine how far it will continue down.
Since the general consensus for June rate hike is probably out of the window, and already priced in, the only thing that can allow AUSD to progress upwards is the prices of commodities (eg. Gold, USOIL & etc.)
Reason for AUD closely linked performance to commodities: atlas.media.mit.edu/...profile/country/aus/
Conclusion: Short AUDUSD @ price level of 0.75
Following that, depending on the outlook of USD, it will determine how far it will continue down.
Since the general consensus for June rate hike is probably out of the window, and already priced in, the only thing that can allow AUSD to progress upwards is the prices of commodities (eg. Gold, USOIL & etc.)
Reason for AUD closely linked performance to commodities: atlas.media.mit.edu/...profile/country/aus/
Conclusion: Short AUDUSD @ price level of 0.75