AUDUSD Daily Analysis – September 2, 2019

AUDUSD is forming a triangle pattern on the 4-hour chart. The triangle pattern is likely consolidation for the downtrend from 0.7081, a breakdown below the lower border of the triangle pattern could trigger further downside movement to 0.6600 area. On the upside, a breakout of the upper border of the pattern would indicate that the downside move had completed at 0.6677 already, then the following upside movement could take the price to 0.6900 zone.

AUDUSD 4-hour chart