AUDUSD formed a sideways consolidation in a range between 0.8660 and 0.8887. As long as 0.8887 resistance holds, the price action in the range could be treated as consolidation of the downtrend from 0.9085, one more fall towards 0.8500 area could be expected after consolidation. On the upside, a break above 0.8887 will signal completion of the downtrend from 0.9085, then further rise to 0.9000 area could be seen.
