AUDUSD is testing 0.7532 support, a breakdown below this level will signal resumption of the long term downtrend from 0.9504 (Jul 1, 2014 high), then next target would be at 0.7000 area.

On the other side, as long as 0.7532 support holds, the fall from 0.8162 could be treated as correction of the uptrend from 0.7532, one more rise to 0.8800 area is still possible.

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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