AUDUSD remains in uptrend from 0.9205, and the rise extended to as high as 0.9439.

Further rise could be expected and next target would be at 0.9500 area. Support is at 0.9370, only break below this level will indicate that consolidation of the uptrend is underway, then pullback to the lower line of the price channel on 4-hour chart could be seen.

Editor’s Note: Equity investors/traders can use the Currency Shares Australian Dollar Trust (FXA, quote) ETF to take positions in the Aussie dollar 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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