AUDUSD Analysis – June 16, 2012

AUDUSD has formed a cycle bottom at 0.9581 on daily chart. The pair is now in uptrend from 0.9581, further rise could be expected next week, and next target would be at 1.0300 area. Support is at 0.9900, as long as this level holds, uptrend will continue.

For long term analysis, AUDUSD may be forming a cycle bottom at 0.9581 on weekly chart. Further rise towards 1.0800 is expected over the next several months.

audusd daily chart
audusd weekly chart