AUDUSD Analysis – April 18, 2009

AUDUSD remains in uptrend from 0.6284. Further rise is still possible to 0.7500 next week. Near term support is at 0.7032 and key support is at 0.6768, only fall below 0.6768 level will indicate that the rise from 0.6284 has completed.

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