AUDUSD Daily Analysis – July 24, 2017

AUDUSD broke below the rising trend line on its 4-hour chart, indicating that the bullish movement from 0.7571 had completed at 0.7989 already. Range trading between 0.7830 and 0.7989 would likely be seen in a couple of days. Support is at 0.7830, as long as this level holds, another rise towards 0.8150 is still possible. Resistance is at 0.7989, a break of this level could signal resumption of the uptrend.

AUDUSD 4-hour chart