AUDUSD extended its downside movement from 0.8124 to as low as 0.7859. Deeper decline to test 0.7807 support would likely be seen in a couple of days. Below this level could confirm that the uptrend from 0.7328 (May 9 low) had completed at 0.8124 already, then the pair would find next support at the resistance-turned-support trend line on the weekly chart now at around 0.7700. On the upside, as long as 0.7807 support holds, another rise towards 0.8162 resistance is still possible. Near term resistance is now at 0.7986, above this level could trigger another rise to test 0.8124 resistance.
