AUD/USD remains in the downtrend from 0.7676, the bounce from 0.7347 is likely consolidation for the downtrend.
No changed in our view, AUD/USD remains in the downtrend from 0.7676, the bounce from 0.7347 is likely consolidation for the downtrend. Resistance is now at the top of the price channel on the 4-hour chart. As long as the channel resistance holds, the downside movement could be expected to continue and next target would be at 0.7250 area. Only a breakout of the channel resistance could signal completion of the downtrend.
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