AUDUSD Daily Analysis – August 13, 2020

AUDUSD continued its sideways movement in a trading range between 0.7063 and 0.7242. As long as 0.7063 support holds, the upside movement from 0.6776 (Jun 15 low) could be expected to resume, and further rise to 0.7350 area is possible. Key support is at 0.7063, a breakdown below this level could signal completion of the uptrend, then another fall towards 0.6800 could be seen.

AUDUSD 4-hour chart