AUDUSD Daily Analysis – August 25, 2023

AUDUSD has successfully breached the descending trend line on the 4-hour chart, marking the initiation of an uptrend from the 0.6363 level.

Anticipated in the coming days is a continuation of the upward trajectory, with the next significant target lying around the 0.6600 zone.

Support in the immediate term is situated at 0.6400. It’s worth noting that a break beneath this level would potentially instigate another descent, possibly towards the 0.6300 mark.