AUDUSD stays in a bearish price channel on the 4-hour chart and remains in the downtrend from 0.8135. As long as the price is in the channel, the bounce from 0.7835 could be treated as consolidation of the downtrend and further decline to 0.7750 area is still possible. On the upside, a clear break above the channel resistance could bring price back to test 0.7953 key resistance. A breakout of this level would confirm that the downside move had completed at 0.7835 already, then further rise to 0.8000 area could be seen.
