AUDUSD Daily Analysis – July 4, 2017

AUDUSD’s fall from 0.7712 extended to as low as 0.7644. However, the fall is likely consolidation of the uptrend from 0.7535, as long as the pair is above the rising trend line on its 4-hour chart, the uptrend could be expected to continue and further rise to 0.7750 area is still possible. Only a clear break below the trend line support will indicate that the uptrend had completed at 0.7712 already.

AUDUSD 4-hour chart