AUDUSD broke above the downward trend line on 4-hour chart, indicating that the downtrend from 0.7755 had completed at 0.7489 already.
Further rise to test 0.7755 resistance could be seen over the next several days.
Support level is at 0.7600, only break below this level could bring price back towards 0.7250.
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.
Content curiosity of FOREXCycle
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