AUDUSD is now facing the falling trend line on its 4-hour chart. Breakthrough the trend line resistance would take price to next resistance level at 0.7875. Above this level would confirm that the downside movement from 0.8124 had completed at 0.7732 already, then the following correction rebound could bring price towards 0.7986. On the downside, as long as the price is below 0.7875 resistance, the rise from 0.7732 could be treated as consolidation of the downtrend from 0.8102, and another fall towards the resistance-turned-support trend line on the weekly chart could be expected after the consolidation. Near term support is at 07732, below this level could signal resumption of the downtrend.
