AUDUSD is now facing the resistance of the bearish trend line on its 4-hour chart. As long as the price is below the trend line, the bounce from 0.7712 could be treated as consolidation for the downtrend from 0.7988, and another fall towards 0.7600 could be expected after the consolidation. On the upside, a clear break above the trend line resistance would indicate that the downside movement had completed at 0.7712 already, then further rally to 0.7950 area could be seen.
