AUDUSD Daily Analysis – August 15, 2017

AUDUSD formed a sideways consolidation in a range between 0.7838 and 0.7918. As long as 0.7918 resistance holds, the downside movement from 0.8065 could be expected to continue and next target would be at the bullish trend line on its daily chart, now at around 0.7790. On the upside, a break above 0.7918 resistance will indicate that the downside movement had completed at 0.7838 already, then the following rebound could bring price to 0.8000 area.

AUDUSD 4-hour chart