AUDUSD moved sideways in a range between 0.7441 and 0.7755.

As long as 0.7441 support holds, the sideways movement could be treated as consolidation of the uptrend from 0.7144, and further rise to 0.8000 area is still possible after consolidation.

On the downside, a breakdown below 0.7441 support will indicate that the uptrend had completed at 0.7755 already, then the following downward movement could bring price to 0.6900 zone.

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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