AUDUSD stays above 0.7663 support and remains in uptrend from 0.7490.

As long as 0.7663 support holds, the fall from 0.7749 could be treated as consolidation of the uptrend, and further rise to 0.7800 area is still possible.

On the downside, a breakdown below 0.7663 support will indicate that the uptrend had completed at 0.7749 already, then the following downward movement could bring price to 0.7600 area.

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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