between 0.6372 and 0.6569 could be treated as consolidation for the uptrend from 0.5507, further rise to 0.6700 area is possible after the consolidation.

On the downside, a breakdown below 0.6372 support would indicate that the upside movement had completed at 0.6569 already, then the pair would find support at around 0.6250.

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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