AUDUSD Daily Analysis – August 14, 2017

AUDUSD broke above the bearish trend line on its 4-hour chart, indicating that the downside movement from 0.8065 had completed at 0.7838 already. Further rally could be expected and next target would be at 0.8000 area. Support is at 0.7838, only a breakdown below this level could trigger another fall towards 0.7800.

AUDUSD 4-hour chart