AUDUSD's upward movement from 0.6826 extended to as high as 0.7680.

Support is now at 0.7400, as long as this level holds, the uptrend could be expected to continue, and next target would be at 0.8000 area.

Only break below 0.7400 support will indicate that consolidation of the uptrend is underway, then the pair will find support around 0.7300.

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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