AUDUSD Daily Analysis – August 12, 2020

AUDUSD moved sideways in a trading range between 0.7063 and 0.7242. The sideways movement is likely consolidation of the uptrend from 0.6776 (Jun 15 low), and further rise towards 0.7350 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