AUDUSD remains in uptrend from 0.9229, the fall from 0.9437 is likely consolidation of the uptrend.

Near term support is located at the bottom of the price channel on 4-hour chart, as long as the channel support holds, the uptrend could be expected to continue, and next target would be at 0.9500 area.

Key support is at 0.9349, only break below this level could signal completion of the uptrend, then the following downward movement could bring price back to 0.9250 area.

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