AUDUSD’s upside movement from 0.7807 extended to as high as 0.8028. As long as the price is in the bullish channel on the 4-hour chart, the upside movement could be expected to continue and next target would be at 0.8050 area. Near term support is at 0.7935, followed by the bottom support trend line of the price channel, only a clear break below the channel support could signal completion of the uptrend.
