AUDUSD Analysis – April 14, 2009

AUDUSD breaks above 0.7267 resistance. Further rise is still possible and the next target would be at 0.7800-0.8000 area. Initial support is at 0.7032, as long as this level holds, we’d expect the uptrend from 0.6284 to continue.

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 0.8000 is expected.

audusd daily chart