AUDUSD bounced strongly from 0.9321, suggesting that the pair remains in uptrend from 0.9208, the fall from 0.9437 would possibly be consolidation of the uptrend. Further rise to test 0.9437 resistance is possible, a break above this level will signal resumption of the uptrend, then next target would be at 0.9500 area. Support is now at 0.9321, only break below this level will confirm that the uptrend had completed at 0.9437 already,. Then deeper decline to 0.9250 area could be seen.
AUDUSD broke below channel support
AUDUSD broke below the lower line of the price channel on 4-hour chart, and is now facing 0.9349 support, a breakdown below this level will indicate that the uptrend from 0.9229 had completed at 0.9437 already, then deeper decline to 0.9250 area could be seen. On the upside, as long as 0.9349 support holds, the fall from 0.9437 would possibly be consolidation of the uptrend, one more rise to 0.9500 area is still possible after consolidation.
