AUDUSD Analysis – March 20, 2010

AUDUSD remains in uptrend from 0.8577. Further rally is still possible next week and next target would be at 0.9300 area. Initial support is at 0.9095, as long as this level holds, uptrend could be expected to continue. However, below this level will suggest that a minor consolidation of uptrend is underway, then pullback to 0.9100 area could be seen.

For long term analysis, AUDUSD might be forming a cycle bottom at 0.8577 level on weekly chart. Rise towards 0.9800 area is possible in next several weeks.

audusd daily chart