AUDUSD broke above 1.8550 key resistance and reached as high as 0.8729. Further rally is still possible next week and next target would be at 0.9000 area. Support level is at 0.8505, as long as this level holds, uptrend could be expected to continue.
For long term analysis, AUDUSD has formed a cycle bottom at 0.8066 level on weekly chart. Rise towards 0.9404 (2009 high) is expected in next several weeks.