AUDUSD broke above the downward trend line on 4-hour chart, indicating that the downtrend from 0.8910 had completed at 0.8540 already.

Further rise would likely be seen, and the target would be at 1.8750 area.

Support is at 0.8540, only break below this level could trigger another fall to 0.8400 zone

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