AUDUSD’s rise from 0.8756 extended to as high as 0.8887. As long as 0.8920 resistance holds, the rise could be treated as consolidation of the downtrend from 0.9085, one more fall towards 0.8500 is still possible after consolidation. On the other side, a break above 0.8920 resistance will indicate that lengthier consolidation of the longer term downtrend from 0.9756 (Oct 23, 2013 high) is underway, and the target would be at 0.9000 zone.
