AUDUSD Daily Analysis – August 22, 2018

AUDUSD extended its upside movement from 1.7202 to as high as 0.7381. As long as the price is above the rising trend line on the 4-hour chart, the upside movement could be expected to continue and next target would be at 0.7450 area. Key support is at 0.7310, only a breakdown below this level could signal completion of the uptrend.

AUDUSD 4-hour chart