AUDUSD Daily Analysis – August 8, 2017

AUDUSD is facing 0.7875 key support. A breakdown below this level will indicate that the uptrend from 0.7571 had completed at 0.8065 already, then the following correction pullback could bring price back into 0.7750 zone. However, as long as 0.7875 support holds, the fall from 0.8065 could be treated as consolidation of the uptrend, another rise towards 0.8150 could be expected after the consolidation.

AUDUSD 4-hour chart