AUDUSD Weekly Analysis – August 26, 2018

AUDUSD remains in the downtrend from 0.8135, the price action from 0.7202 is likely consolidation for the downtrend. As long as the price is below the falling trend line on the daily chart, the downside movement could be expected to resume and a breakdown below 0.7202 support could trigger another fall towards 0.7000. The key resistance is at 0.7483, only a break of this level could signal completion of the downtrend.

AUDUSD daily chart