AUDUSD failed to break below the bottom support trend line of the price channel on 4-hour chart and rebound from 0.7442, indicating that the pair remains in uptrend from 0.7328. As long as the pair is in the channel, the upward movement could be expected to continue, and next target would be at around 0.7550. Key support is now at 0.7442, only a breakdown below this level will suggest that the upward movement had completed at 0.7517 already, then the following bearish movement could bring price back to around 0.7250.
