AUDUSD Weekly Analysis – August 12, 2017

AUDUSD’s pullback from 0.8065 extended to as low as 0.7838, facing the support of the bullish trend line on its daily chart. As long as the price is above the trend line, the pullback could be treated as consolidation of the uptrend from 0.7328 and another rise towards 0.8150 is still possible after the consolidation. Only a clear break below the trend line support could signal completion of the uptrend.

AUDUSD daily chart