AUDUSD Weekly Analysis – August 6, 2017

AUDUSD stays above a bullish trend line on its daily chart and remains in the uptrend from 0.7328. Near term support is at 0.7875, as long as this level holds, the uptrend could be expected to continue and next target would be at 0.8150, followed by 0.8450. On the downside, a breakdown below 0.7875 support will indicate that lengthier consolidation for the uptrend is underway, then the pair will find support at the bullish trend line now at around 0.7730.

AUDUSD daily chart