After consolidation, AUDUSD continues its downward movement from 0.7555 and the fall extended to as low as 0.7354. Near term resistance is now at 0.7426, as long as this level holds, the downward movement could be expected to continue, and next target would be at 0.7300 area. On the upside, a break of 0.7426 resistance will indicate that the downtrend is complete, then the pair will find resistance at the descending trend line on 4-hour chart.

audusd 4-hour chart


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