AUDUSD remains in uptrend from 0.8660 (Jan 24 low), the price action from 0.9080 could be treated as consolidation of the uptrend.
Another rise towards 0.9350 could be expected after consolidation, and a break above 0.9133 could signal resumption of the uptrend.
Key support is at 0.8890, only break below this level could signal completion of the uptrend.
Content curiosity of FOREXCycle
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 euro, minus ETF fee. The fund seeks to reflect the price of the euro with the shares representing a cost-effective investment relative to investing in the FOREX market.
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