AUDUSD has broken above the downward trend line on 4-hour chart, suggesting that the downtrend from 1.0342 has completed at 0.9663 already. Lengthier consolidation of the longer term downtrend from 1.0751 would likely be seen over the next several days, and the trading range would be between 0.9663 and 1.0000. As long as 1.0000 resistance holds, downtrend could be expected to resume, and one more fall towards 0.9390 (Oct 4 low) is still possible, only break above 1.0000 could indicate that the fall from 1.0751 is complete.
