AUDUSD moved sideways without trend in a trading range between 0.7624 and 0.7729. As long as the price is below 0.7729, the sideways movement could be treated as consolidation of the downtrend from 0.7897 and further decline towards 0.7500 is still possible after the consolidation. Near term support is at 0.7624, a breakdown below this level could signal resumption of the downtrend. On the upside, a breakout of 0.7729 will indicate that lengthier consolidation for the downtrend from 0.8124 (Sep 8 high) is underway, then further rally towards 0.7800 could be seen.
