AUDUSD Daily Analysis – Wednesday, August 8

AUDUSD’s bounce from 0.7348 extended to as high as 0.7439. Further rise is still possible in a couple of days and next target would be at 0.7483 resistance.

Near-term support is at the rising trend line on the 4-hour chart, only a clear break below the trend line support could bring the price back towards 0.7310 previous low.

AUDUSD 4-hour chart

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