AUDUSD broke above the resistance of the falling price channel on the 4-hour chart, suggesting that consolidation for the downtrend from 0.6929 is underway. Range trading between 0.6769 and 0.6840 would likely be seen in the coming days. As long as 0.6840 resistance holds, the downtrend could be expected to resume, further decline towards 0.6700 is still possible after the consolidation.
