AUDUSD Daily Analysis – August 31, 2017

AUDUSD is facing 0.7866 support, a breakdown below this level could indicate that the uptrend from 0.7807 had completed at 0.7995 already, then the following downside movement could bring price to 0.7700 area. On the upside, as long as 0.7866 support holds, the fall from 0.7995 could be treated as consolidation of the uptrend and further rise towards 0.8065 is still possible.

AUDUSD 4-hour chart