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AUD/USD Breaks Below Channel Support

Published 06/16/2014, 11:42 PM
Updated 07/09/2023, 06:31 AM

AUD/USD broke below the lower line of the price channel on the 4-hour chart, and is now facing 0.9349 support. A break below this level will indicate that the uptrend from 0.9229 had already completed at 0.9437, and a deeper decline to 0.9250 area could be seen. On the upside, as long as 0.9349 support holds, the fall from 0.9437 would possibly be consolidation of the uptrend. One more rise to the 0.9500 area is still possible after the consolidation.

AUD/USD 4-Hour Chart

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