AUDUSD moved sideways in a trading range between 0.7159 and 0.7246. As long as 0.7246 resistance holds, the price action in the range could be treated as consolidation of the downtrend from 0.7524, and further decline to 0.7000 area is still possible after consolidation. On the upside, a break of 0.7246 resistance will indicate that lengthier consolidation for the downtrend is needed, then further rise to 0.7350 area could be seen.
