AUDUSD Analysis – April 10, 2010

AUDUSD stays in a rising price channel on daily chart and remains in uptrend from 0.8577. Further rise to test 0.9404 key resistance is expected next week. Support is at the lower border of the price channel, only a clear break below the channel support could indicate that the rise from 0.8577 has completed.

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

audusd daily chart