AUDUSD Daily Analysis – February 20, 2018

AUDUSD remains in the uptrend from 0.7759, the fall from 0.7988 is likely correction for the uptrend. Near term support is at 0.7865, as long as this level holds, the uptrend could be expected to resume and another rise towards 0.8100 is still possible after the correction. On the downside, a breakdown below 0.7865 support would indicate that the upside movement had completed at 0.7988 already, then further decline towards 0.7759 could be seen.

AUDUSD 4-hour chart