AUDUSD remains in downtrend from 0.9504, the rise from 0.9328 is likely correction of the downtrend. Another fall could be expected after correction, and next target would be at 0.9250 area.

Support is at 0.9328, a breakdown below this level could signal resumption of the downtrend.

Resistance is at 0.9455, only break above this level could trigger another rise towards 0.9600.

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.

Content curiosity of FOREXCycle