AUDUSD remains in downtrend from 1.0624

AUDUSD remains in downtrend from 1.0624, the price action from 1.0181 is treated as consolidation of the downtrend. Range trading between 1.0149 and 1.0280 would likely be seen in a couple of days. Key resistance is at the downward trend line on 4-hour chart, as long as the trend line resistance holds, we’d expect downtrend to resume, and one more fall to 1.0000-1.0100 area to complete the downward movement is possible, only a clear break above the trend line resistance could signal completion of the downtrend.

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