AUDUSD continued its downward movement from 0.7755, and the fall extended to as low as 0.7500.

Further decline is still possible over the next several days, and next target would be at 0.7250 area.

Near term resistance is at 0.7585, only break above this level could bring price back to test the resistance of the downward trend line on 4-hour chart.

Editor’s Note: Equity investors/traders can use the Currency Shares Australian Dollar Trust (FXA, quote) ETF to take positions in the Aussie dollar without a FOREX account.  The ETF looks to track the price of the Aussie dollar (AUDUSD), minus ETF fee. The fund seeks to reflect the price of the Aussie dollar (AUDUSD) with the shares representing a cost-effective investment relative to investing in the FOREX market.

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