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AUDUSD Analysis - July 22, 2012

Long Term Forex Analysis | by ForexCycle.com | Sunday, 22 July 2012 11:15 UTC
After consolidation, AUDUSD continues its upwards movement from 0.9581, and the rise extends to as high as 1.0443. Further rise is still possible over the next several days, and next target would be at 1.0600 area. Key support is now at 1.0100, only break below this level could signal completion of the uptrend.

For long term analysis, AUDUSD has formed a cycle bottom at 0.9581 on weekly chart. Further rise towards 1.0800 is expected over the next several months.

audusd daily chart

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