AUDUSD Daily Analysis – Tuesday, August 4

AUDUSD remains in the uptrend from 0.6776, the price action from 0.7182 is likely consolidation for the uptrend.

As long as the price is above the rising trend line on the 4-hour chart, the upside movement could be expected to resume, and further rise to 0.7300 area is still possible. On the other side, a breakdown below the trend line support would indicate that the upside movement had completed at 0.7227 already, then another fall towards 0.6800 could be seen.

AUDUSD 4-hour chart

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