The AUD/USD remains in downtrend from 1.0582 (Apr 11 high). The bounce from 0.9326 is likely consolidation of the downtrend. Key resistance is located at the upper line of the price channel on 4-hour chart. As long as the channel resistance holds, the downtrend could be expected to resume, and another fall towards 0.9000 is still possible after consolidation. On the upside, a clear break above the channel resistance will indicate that the downtrend from 1.0582 has already completed at 0.9326. The following upward movement could bring the price back to the 1.0700 zone.