AUDUSD Analysis – April 4, 2009

AUDUSD breaks above 0.7092 and reaches as high as 0.7227 level. Further rally could be seen to 0.7500 zone in next several days. Key support is located at 0.6768, below this level will indicate that the rise from 0.6284 has completed and the following pullback will take price back to 0.6300–.6400 area.

For long term analysis, AUDUSD is in consolidation of the downtrend from 0.9849 (2008 high). Moving sideways in a range between 0.6000 and 0.7500 is expected.

audusd daily chart