FX.co - AUD/USD Update for August 20, 2021 - Intraday rally in play towards 0.7150

2021-08-20T12:28:27

Relevance until2021-08-20

Technical analysis:

AUD/USD Update for August 20, 2021 - Intraday rally in play towards 0.7150

AUD/USD has been trading upside in last few hours and there is chance for the corrective rally towards upside references.

Trading recommendation:

Due to the breakout of the downside channel, there is potential for the upside movement.

Watch for buying opportunities with the upside target at 0,7155 and 0,7180

Key intraday support is set at the price of 0,7105

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade

Analytical expert

Petar Jacimovic

FX.co ★ AUD/USD Update for August 20, 2021 - Intraday rally in play towards 0.7150