AUDUSD Daily Analysis – August 7, 2019

AUDUSD stays in a trading range between 0.6747 and 0.6805. As long as 0.6805 resistance holds, the sideways movement could be treated as consolidation for the downtrend from 0.7081, further decline to 0.6700 area is still possible after the consolidation, only break above 0.6805 resistance could signal completion of the downtrend.

AUDUSD 4-hour chart