AUDUSD Weekly Analysis – August 19, 2018

AUDUSD stays below a falling trend line on the daily chart and remains in the downtrend from 0.8135. As long as the trend line resistance holds, the bounce from 0.7202 could be treated as consolidation for the downtrend and further decline to 0.7000 is still possible after the consolidation. Key resistance is at 0.7483, only a break of this level could signal completion of the downtrend.

AUDUSD daily chart