AUDUSD Daily Analysis – July 18, 2017

AUDUSD remains in uptrend from 0.7571, the fall from 0.7838 is likely consolidation of the uptrend. Near term support is located at the bottom trend line of the price channel on its 4-hour chart. As long as the price is in the channel, the uptrend could be expected to continue and next target would be at 0.8000 area. Only a clear break below the channel support could signal completion of the uptrend.

AUDUSD 4-hour chart