AUDUSD stays in a downward price channel on 4-hour chart, and remains in downtrend from 1.0378. As long as the channel resistance holds, downtrend could be expected to resume, and another fall towards 0.9663 is still possible. Key resistance is now at 1.0026, a break above this level will indicate that lengthier consolidation of downtrend is underway, then bounce to 1.0100 area could be seen.


Forex Technical Analysis