AUDUSD Analysis – June 30, 2012

AUDUSD break above 1.0223 resistance, suggesting that the uptrend from 0.9581 has resumed. Further rise could be expected next week and next target would be at 1.0500 area. Support is at 0.9965, only break below this level could bring price back to 0.9800 zone.

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

audusd daily chart