AUDUSD failed to settle above the top trend line of the price channel on the 4-hour chart, indicating that the pair remains in the downtrend from 0.7897, the bounce from 0.7532 could be treated as consolidation of the downtrend. Near term support is at 0.7580, a breakdown below this level could take price to test 0.7532 support. Below here will confirm that the downtrend has resumed, then next target would be at 0.7450 area. On the upside, a clear break above the channel resistance could could signal completion of the downtrend, then next target would be at 0.7729.
