AUDUSD Daily Analysis – August 9, 2017

AUDUSD broke below 0.7875 support and is now in downtrend from 0.8065. Near term resistance is at the falling trend line on the 4-hour chart. As long as the pair is below the trend line, the downtrend could be expected to continue and next target would be at 0.7800 area. Only a clear break above the trend line resistance could trigger another rise into 0.8040 zone.

AUDUSD 4-hour chart