AUDUSD remains in downtrend from 0.9756 (Oct 23 high), the rise from 0.8990 could be treated as consolidation of the downtrend. Further rally would likely be seen, and the target would be at the upper line of the price channel on 4-hour chart. As long as the channel resistance holds, the downtrend could be expected to resume, and one more fall to test 0.8847 (Aug 5 low) support is still possible.
Provided by ForexCycle.com