AUDUSD Daily Analysis – Wednesday, Sept. 6

AUDUSD’s upside movement from 0.7807 extended to as high as 0.8028.

As long as the price is in the bullish channel on the 4-hour chart, the upside movement could be expected to continue and next target would be at 0.8050 area.

Near-term support is at 0.7935, followed by the bottom support trend line of the price channel, only a clear break below the channel support could signal completion of the uptrend.