AUDUSD Daily Analysis – August 31, 2016

AUDUSD continued its downward movement from 0.7755, and the fall extended to as low as 0.7500. Further decline is still possible over the next several days, and next target would be at 0.7250 area. Near term resistance is at 0.7585, only break above this level could bring price back to test the resistance of the downward trend line on 4-hour chart.

audusd chart