AUDUSD Daily Analysis – Thursday, August 16

AUDUSD remains in the downtrend from 0.7453, the bounce from 0.7202 is likely consolidation for the downtrend.

As long as 0.7283 resistance holds, the downtrend could be expected to resume and further decline to 0.7100 area is possible after the consolidation.

Only a break of 0.7283 resistance could signal completion of the downtrend.