AUDUSD extended its upside movement from 0.7501 to as high as 0.7874. Near term support is at the bottom of the price channel on the 4-hour chart. As long as the channel support holds, the uptrend could be expected to continue and next target would be at 0.7950 area. On the downside, a clear break below the channel support will indicate that the uptrend had completed at 0.7874 already, then the following downside movement could bring price back towards 0.7750, followed by 0.7635.
