AUDUSD is testing resistance at 0.9100, a break of this level will signal the resumption of the up trend, and further rally towards 0.9398 previous high is expected to follow. Near term support is at 0.8920 and followed by 0.8819, as long as 0.8819 support holds, we’d expect up trend to continue.
For long term analysis, AUDUSD is in consolidation to the long term up trend, Rise towards 1.0000 to reach the next cycle top on weekly chart is still possible after consolidation, and a break above 0.9398 level will signal the resumption of the long term up trend.
