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| AUDUSD Analysis - Jun 28, 2008 |
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| Written by ForexCycle.com | |
| Saturday, 28 June 2008 | |
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AUDUSD's up trend remains. Further rise above 0.9653 resistance to reach next cycle top on daily chart is still in favor. Initial support is at 0.9450 and key support is at 0.9327, only break down below this level will indicate lengthier consolidation is underway, and then deeper decline to 0.9100 area is expected to follow. For long term analysis, AUDUSD is in long term up trend. As long as 0.8953 support holds, we'd expect up trend to continue and further rise to 1.0500 level is in favor.
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