AUDUSD Daily Analysis – August 21, 2020

AUDUSD stays above a rising trend line on the 4-hour chart and remains in the uptrend from 0.6776 (Jun 15 low). As long as the trend line support holds, the upside movement could be expected to continue and next target would be at 0.7400 area. Key support is at 0.7063, only a breakdown below this level could bring the price back into 0.6950 zone.

AUDUSD 4-hour chart