AUDUSD Weekly Analysis – July 19, 2020

AUDUSD is forming a sideways consolidation in a trading range between 0.6775 and 0.7063. As long as 0.6775 support holds, the uptrend from 0.5507 could be expected to continue and next target would be at 0.7300 area. On the downside, a breakdown below 0.6775 support would indicate that the upside movement had completed at 0.7063 already, then the following downside movement could take the price to 0.6400 zone.

AUDUSD daily chart