AUDUSD remains in downtrend from 0.7749.

Further decline could be expected in a couple of days and next target would be at 0.7550 area.

Resistance is at the top of the price channel on 4-hours chart, only a clear break above the channel resistance could signal completion of the downtrend

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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