AUDUSD remains in uptrend from 0.8995, the fall from 0.9294 could be treated as consolidation of the uptrend.

Support is at 0.9200, as long as this level holds, the uptrend could be expected to resume, and next target would be at 0.9400 area.

On the downside, a breakdown below 0.9200 support will indicate that lengthier consolidation of the longer term uptrend from 0.8890 (Mar 3 low) is underway, then the pair will find support around 0.9160.

Editor’s Note: Equity investors/traders can use the Currency Shares Euro Trust (FXE, quote) ETF to take positions in the euro without a FOREX account.  The ETF looks to track the price of the euro, minus ETF fee. The fund seeks to reflect the price of the euro with the shares representing a cost-effective investment relative to investing in the FOREX market.

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