AUDUSD Daily Analysis – August 21, 2019

AUDUSD formed a sideways movement in a trading range between 0.6735 and 0.6821. As long as 0.6735 support holds, the sideways movement could be treated as consolidation for the uptrend from 0.6677, further rise to 0.6900 area is still possible after the consolidation. However, 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