AUDUSD’s rise from 1.0304 extends to as high as 1.0451. Further rise to test the resistance of the downward trend line would likely be seen later today. As long as the trend line resistance holds, the rise is treated as consolidation of the downtrend from 1.0855, and another fall to 1.0200 is still possible. On the other side, a clear break above the trend line will suggest that lengthier consolidation of the downtrend is underway, then range trading between 1.0304 and 1.0556 could be seen.
