AUDUSD Daily Analysis – August 8, 2018

AUDUSD’s bounce from 0.7348 extended to as high as 0.7439. Further rise is still possible in a couple of days and next target would be at 0.7483 resistance. Near term support is at the rising trend line on the 4-hour chart, only a clear break below the trend line support could bring the price back towards 0.7310 previous low.

AUDUSD 4-hour chart