AUDUSD Daily Analysis – August 29, 2019

AUDUSD formed a triangle pattern on its 4-hour chart. The triangle pattern is likely consolidation for the downtrend from 0.7081, a breakdown below the bower border of the pattern could take the price to 0.6600 area. On the upside, above the upper border of the pattern would indicate that the downtrend had completed at 0.6677 already, then further rally to 0.6900 area could be seen.

AUDUSD 4-hour chart