AUDUSD Weekly Analysis – July 16, 2017

AUDUSD continued its bullish movement from 0.7328 and the rise extended to as high as 0.7834. Further rise is still possible after a minor consolidation and next target would be at 0.8000 area. Support is now located at the ascending trend line on the daily chart, only a clear break below the trend line support could signal completion of the uptrend.

AUDUSD daily chart