AUDUSD Daily Analysis – August 11, 2020

AUDUSD remains in the uptrend from 0.6776 (Jun 15 low), the price action in the trading range between 0.7063 and 0.7242 is likely consolidation for the uptrend. As long as 0.7063 support holds, the upside movement could be expected to resume and further rise to 0.7350 area is possible after the consolidation. Key support is at 0.7063, a breakdown below this level could bring the price back towards 0.6900.

AUDUSD 4-hour chart