AUDUSD Daily Analysis – August 2, 2017

AUDUSD moved sideways in a trading range between 0.7875 and 0.8065. As long as 0.7875 key support holds, the sideways movement could be treated as consolidation of the uptrend from 0.7571, and further rise towards 0.8150 is still possible after the consolidation. Only a breakdown below 0.7875 support could signal completion of the uptrend.

AUDUSD 4-hour chart