AUDUSD remains in the short term uptrend from 0.7328

Franco Shao ForexCycle.com

AUDUSD remains in the short term uptrend from 0.7328, the fall from 0.7445 is likely consolidation of the uptrend. Further rise to test the resistance of the descending trend line on 4-hour chart is possible. Support is now at 0.7385, only a breakdown below this level will indicate that the short term uptrend is complete, then the following bearish movement could bring price to 0.7250 area.

Interested in AUDUSD technicals? Check out the key levels

1. R3 0.7511
2. R2 0.7478
3. R1 0.7455
PP 0.7422
1. S1 0.7398
2. S2 0.7365
3. S3 0.7342

Author

Franco Shao

ForexCycle.com

Franco Shao is founder of ForexCycle.com - a website that focuses on market trend and data analysis of the financial markets, especially for foreign exchange trading. It was established in year 2005. Franco has rich experience in the industry.

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