AUDUSD Daily Analysis – August 17, 2017

AUDUSD broke above the top trend line of the price channel on its 4-hour chart, indicating that the downside movement from 0.8065 had completed at 0.7807 already. Further rally could be expected after a correction pullback and next target would be at 0.8000 area. Support levels are at 0.7875 and 0.7807, only break below these levels could trigger another fall towards 0.7700.

AUDUSD 4-hour chart