AUDUSD Analysis – June 26, 2010

AUDUSD remains in uptrend from 0.8066 and the fall from 0.8858 is treated as consolidation of uptrend. Support is at 0.8450, as long as this level holds, we’d expect uptrend to resume and one more rise to 0.9000 area is still possible.

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.

audusd daily chart