AUDUSD broke below 0.7587 support, indicating that the downtrend from 0.7749 has resumed.

Further decline would be expected and next target would be at 0.7500 area.

Near term resistance is located at the descending trend line on 4-hours chart, as long as the pair is below the trend line, the downtrend will continue.

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 Aussie dollar (AUDUSD), minus ETF fee. The fund seeks to reflect the price of the Aussie dollar (AUDUSD) with the shares representing a cost-effective investment relative to investing in the FOREX market.

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