AUDUSD Daily Analysis – August 23, 2018

AUDUSD broke below the bullish trend line on the 4-hour chart and dropped sharply to as low as 0.7286, suggesting that the upside movement from 0.7202 had completed at 0.7381 already. Further decline is still possible and next target would be at 0.7250 area. Resistance is at 0.7330, only a break of this level could trigger another rise towards 0.7450.

AUDUSD 4-hour chart