AUDUSD remains in downtrend from 0.9461. As long as 0.9316 resistance holds, the downtrend could be expected to continue, and next target would be at 0.9180 area.

On the upside, a break above 0.9316 will indicate that the downtrend from 0.9461 had completed, then the following upward movement could bring price to 0.9550 zone.

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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