No changed in our view, AUDUSD remains in downtrend and the fall from 0.7267 extends further to 0.6418 level. Deeper decline is still in favor. Target would be at the lower border of the price channel, now at 0.6320. Key resistance is at 0.6840, a break above this level will signify that the fall from 0.7267 has completed.
For long term analysis, AUDUSD formed a cycle bottom at 0.6008 level on weekly chart. Consolidation in a range between 0.6008 and 0.7500 is possible in next several weeks.
