AUDUSD Analysis – November 13, 2010

AUDUSD remains in uptrend from 0.8066. As long as 0.9651 key support holds, the price action from 0.9998 is treated as consolidation of uptrend, and another rise towards 1.0500 area is still possible. However, a breakdown below 0.9651 support will indicate that the uptrend from 0.8066 has completed at 1.0182 already, then the following downward move could bring price to 0.9000 or even lower.

For long term analysis, AUDUSD is in uptrend from 0.8066, further rise to 1.1000 area is still possible in next several weeks.

audusd daily chart