AUDUSD Weekly Analysis – August 12, 2018

AUDUSD broke below 0.7310 support and extended its downside movement from 0.8135 to as low as 0.7280. As long as the price is below the falling trend line on the daily chart, the downside movement could be expected continue and next target would be at 0.7000 area. Key resistance is at 0.7483, only a break of this level could signal completion of the downtrend.

AUDUSD daily chart