AUDUSD Analysis – July 28, 2012

AUDUSD’s upward movement from 0.9581 extends to as high as 1.0485. Further rise could be expected next week, and next target would be at 1.0650 area. Key support is now at 1.0176, only break below this level could signal completion of the uptrend.

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