AUDUSD Daily Analysis – August 8, 2019

AUDUSD remains in the downtrend from 0.7081, as long as 0.6805 resistance holds, the bounce from 0.6677 could be treated as consolidation for the downtrend. Further decline is still possible after the consolidation and next target would be at 0.6600 area. Only break above 0.6805 resistance could signal completion of the downtrend.

AUDUSD 4-hour chart