AUDUSD remains in downtrend from 0.9401, the rise from 0.8983 is likely consolidation of the downtrend. Near term resistance is located at the upper line of the price channel on 4-hour chart, as long as the trend line resistance holds, the downtrend could be expected to resume, and next target would be at 0.8800 area. Only a clear break above the channel resistance could signal completion of the downtrend.
