AUDUSD stays above the upward trend line on 4-hour chart, and remains in uptrend from 0.8540, the fall from 0.8795 is likely consolidation of the uptrend.
As long as the trend line support holds, the uptrend could be expected to continue, and next target would be at 0.8850 area.
Only a clear break below the trend line support will indicate that the uptrend had completed at 0.8795 already, then deeper decline to test 0.8540 support could be seen.
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
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