AUDUSD ran in an ascending price channel on 4-hour chart and just bounces off the top resistance line of the channel. Correction pullback could be seen and the target would be at the bottom support line of the channel. However, as long as the channel support holds, the pullback could be treated as consolidation of the uptrend from 0.7328 and another rise towards 0.7550 is still possible after the consolidation. Key support is now at 0.7406, only break below this level will indicate that the upward movement had completed at 0.7517 already, then the following bearing movement could bring price back towards 0.7250.
