AUDUSD broke above the falling trend line on the 4-hour chart and is now facing 0.7610 resistance.
As long as this level holds, the rise from 0.7532 could be treated as consolidation of the downtrend from 0.7729, and another fall towards 0.7450 could be expected after the consolidation.
On the upside, a breakout of this level will indicate that downtrend had completed at 0.7532 already, then further rise to 0.7650 area could be seen.
Travis Esquivel is an engineer, passionate soccer player and full-time dad. He enjoys writing about innovation and technology from time to time.
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