AUDUSD Weekly Analysis – September 2, 2018

AUDUSD broke below 0.7202 support and extended its downside movement from 0.8135 to as low as 0.7175. As long as the price is below the bearish trend line on the daily chart, the downside movement could be expected to continue and next target would be at 0.7000 area. The key resistance is at 0.7483, only a break of this level could signal completion of the downtrend.

AUDUSD daily chart