AUDUSD remains in downtrend from 1.0255 and the fall extends to as low as 0.9856 level. Deeper decline is still possible in a couple of days and next target would be at 0.9700-0.9750 area. Resistance is at 0.9991, only break above this level could indicate that a cycle bottom has been formed on 4-hour chart, then sideways consolidation could be seen.
Written by ForexCycle.com