AUDUSD Daily Analysis – August 17, 2020

AUDUSD continued its sideways movement in a trading range between 0.7063 and 0.7242. The sideways movement is likely consolidation for the uptrend from 0.6776 (Jun 15 low), and further rise to 0.7350 area is possible after the consolidation. Only break below 0.7063 support could bring the price back to 0.6950 zone.

AUDUSD 4-hour chart