AUDUSD Daily Analysis – Wednesday, August 5

AUDUSD moved sideways in a trading range between 0.7063 and 0.7227.

As long as the price is above the rising trend line on the 4-hour chart, the sideways movement could be treated as consolidation for the uptrend from 0.6776, and further rise towards 0.7300 is possible. Key support is at 0.7063, only break below this level could signal completion of the uptrend.

AUDUSD 4-hour chart

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