AUDUSD Analysis - July 24, 2010 Bookmark and Share
Forex Market Analysis  |  Written by ForexCycle.com |  Saturday, 24 July 2010 02:36 GMT
AUDUSD's bounce from 0.8066 extends to as high as 0.8970 level. Further rise is expected next week and next target would be at 0.9200 area. Key support is at 0.8632, only fall below this level could turn price back to 0.8400 zone.

For long term analysis, AUDUSD has formed a cycle bottom at 0.8066 level on weekly chart. Rise towards 0.9404 (2009 high) is expected in next several weeks.

audusd daily chart
 

Recommended Forex Trading Platforms

Voted Best Trading Platform of the year 2011 by World Finance Magazine, 4XP is the premier online broker, offering commission-free Forex, CFD’s, tight fixed spreads and real-time prices. 4XP offers cutting-edge software, advanced charting, mobile trading, daily analysis and 24 hour multilingual support.