AUDUSD Weekly Analysis – April 10, 2016

AUDUSD is facing the support of the upward price channel on daily chart. As long as the channel support holds, the fall from 0.7722 could be treated as consolidation of the uptrend from 0.6826, another rise could be expected after consolidation, and next target would be at 0.8000 area. On the downside, a clear break below the channel support will indicate that he uptrend had completed at 0.7722 already, then the following downward movement could bring price back to 0.7100 area.

audusd chart