AUDUSD moved sideways in a narrow range between 0.8820 and 0.8957. As long as 0.8957 resistance holds, the price action in the range could be treated as consolidation of the downtrend from 0.9756 (Oct 23 high), another fall towards 0.8500 is still possible after consolidation. On the upside, a break above 0.8957 resistance will indicate that the downtrend from 0.9756 had completed at 0.8820 already, then the following upward movement could bring price back to 0.9650 zone.
