AUDUSD Weekly Analysis – September 3, 2017

AUDUSD remains in the uptrend from 0.7328, the price action from 0.8065 is likely consolidation of the uptrend. Near term support is at the bullish trend line on the daily chart. As long as the price is above the trend line, the upside movement could be expected to continue and next target would be at 0.8162 area. On the downside, a breakdown below the trend line support could take price to next support level at 0.7807, below this level could signal completion of the uptrend, then the pair would find support at 0.7700.

AUDUSD daily chart