AUDUSD Analysis – December 18, 2011

AUDUSD had formed a cycle top at 1.0378 on daily chart. Another fall towards 1.9390 previous low would likely be seen over the next several days. Resistance is at 1.0100, as long as this level holds, downtrend from 1.0378 will continue.

For long term analysis, AUDUSD had formed a cycle bottom at 0.9390 on weekly chart. Range trading between 0.9390 and 1.1080 is expected over the next several weeks.

audusd daily chart