AUDUSD is in downtrend from 0.7755

August 30, 2016

AUDUSD is in downtrend from 0.7755. Further decline could be expected in a couple of days, and next target would be at 0.7250 area. Resistance is located at the downward trend line on 4-hour chart, only a clear break above the trend line resistance could trigger another rise towards 0.8000.

audusd chart

By www.forexcycle.com