AUDUSD Daily Analysis – August 20, 2019

AUDUSD continued its sideways movement in a trading range between 0.6735 and 0.6821. The sideways movement is likely consolidation for the uptrend from 0.6677, as long as 0.6735 support holds, the uptrend could be expected to resume, a breakout of 0.6821 resistance could take the price to 0.6900 area. On the downside, a breakdown below 0.6735 support would confirm that the upside move had completed at 0.6821 already, then another fall towards 0.6650 could be seen.

AUDUSD 4-hour chart