AUDUSD’s downside movement from 0.7729 extended to as low as 0.7535. Near term resistance is at the falling trend line on the 4-hour chart. As long as the price is below the trend line, the downside movement could be expected to continue and next target would be at 0.7328. On the upside, a clear break above the trend line resistance could bring price back to next resistance level at 0.7610. Above this level could trigger further upside movement towards 0.7650.
